IRS claims Motorola owes $500 million in back taxes - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

IRS claims Motorola owes $500 million in back taxes

Updated:
WASHINGTON (Dow Jones/AP) _ Motorola Incorporated says the Internal Revenue Service claims the cellphone maker owes 500 (M) million dollars in additional tax liability for the years 1996 through 2000.

According to Motorola's second-quarter report, the I-R-S 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.
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