Microsoft Faces $29 Billion Tax Bill
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Microsoft is in hot water with the Internal Revenue Service (IRS)

The tax agency says the tech giant owes an additional $29 billion in back taxes.

Microsoft completely denies the allegations and says it will fight the claim in the court.

Other large technology companies are also watching the case closely.

If Microsoft loses, it could set a precedent for the IRS to audit and tax other companies more aggressively.

And it could be forced to pay billions of dollars in back taxes and penalties.

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