Symantec hit with $1 billion tax bill
By Robert McMillan, IDG News Service
The U.S. Internal Revenue Service has hit Symantec Corp. with a $1 billion tax bill for allegedly under-reporting the value of intellectual property that the software vendor transferred to two Irish subsidiaries.
Symantec was notified of the issue by the IRS in late March, the company said in a regulatory filing, dated Monday.
Ouch...