Daily Management Review

The U.S. IRS Probes Facebook For Transferring Assets As A Tax Evasion Measure


The lawsuit filed against the company can be a pressure point.

Facebook Inc is being examined by the “Internal Revenue Service” of the United States which is probing into Facebook’s “transfer of various rights” to a “holding company in Ireland” from company’s “worldwide business”. The said information is as per court’s legal papers.
On Wednesday, the 6th of July 2016, the Justice Department of the United States registered a lawsuit against Facebook in San Francisco’s federal court, whereby the former sought to “enforce IRS summonses served on Facebook”. Furthermore, the lawsuit is intended to put pressure on Facebook Company to generate “various documents as part of the agency's examination”.

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