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14 hours ago

Coca-Cola takes its fight with the IRS to federal appeals court with $20B on the line

Coca-Cola and the IRS are heading to court with $20 billion on the line amid a years-long dispute over the beverage company's reporting of profits made in the U.S. and overseas.The soda giant is taking its case to a federal appeals court in Miami as it looks to resolve a tax liability stemming from how Coca-Cola and its foreign subsidiaries disclosed profits from 2007 to 2009 using an accounting practice known as transfer pricing.The case centers on an agreement between the company and the IRS from 1996 about how the company would report foreign profits, as Coca-Cola's U.S. corporation license...