business / news / / Bloomberg Tax News
The biotechnology giant said Thursday that the IRS has proposed “significant adjustments’ to its tax bills from 2016 to 2018.
Amgen disclosed new IRS proposals for significant tax adjustments for 2016 to 2018.
KEY POINTS
- The IRS now seeks additional taxes from Amgen beyond the previously acknowledged $10.7 billion.
- The new IRS demands stem from alleged profit shifting to Puerto Rico for tax advantages.
- Amgen's latest dispute expands ongoing litigation covering tax years 2010 through at least 2018.
COMPANIES
Summarized by Newsio from Bloomberg Tax News. How we summarize →