IRS Says Local Company Owes $500 Million in Back Taxes

By: Washington (Dow Jones) - AP
By: Washington (Dow Jones) - AP

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.

23 WIFR 2523 North Meridian Road Rockford, IL. 61101 Business: 815-987-5300 Fax: 815-965-0981 News: 815-987-5330 Fax: 815-987-5333
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 918712 -
Gray Television, Inc.