IRS Says Local Company Owes $500 Million in Back Taxes

By  | 

According to Motorola's second-quarter report, the IRS completed a field examination of the company's 1996 through 2000 tax returns in June and told Motorola of proposed adjustments, primarily related to transfer pricing.

Transfer pricing refers to prices at which individual units within a company sells goods or services to one another.

The Schaumburg-based company says it disagrees with these proposed adjustments and intends to dispute the matter.

Motorola has a Service Center on S. Central Ave. in Rockford.