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The IRS is scrutinizing how UnitedHealth moved money through foreign subsidiaries—and whether it underpaid taxes

First publishedAug 19, 07:04 UTC
Last updatedAug 19, 10:08 UTC · 1m ago
11 outletFortune
Fortune6The IRS is scrutinizing how UnitedHealth moved money through foreign subsidiaries—and whether it underpaid taxesOpen ↗
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The IRS is scrutinizing how UnitedHealth moved money through foreign subsidiaries—and whether it underpaid taxes
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Answer

UnitedHealth Group is contesting an Internal Revenue Service proposal to increase its taxable income over how it priced transactions with one of its foreign subsidiaries, a dispute the company disclosed in a quarterly filing in May and repeated in its August filing. The notices cover transactions between UnitedHealth and a foreign subsidiary from the 2017 through 2020 tax years, according to the May filing.

Reported by 1 outlet — Fortune. See all sources ↓

UnitedHealth Group is contesting an Internal Revenue Service proposal to increase its taxable income over how it priced transactions with one of its foreign subsidiaries, a dispute the company disclosed in a quarterly filing in May and repeated in its August filing. The notices cover transactions between UnitedHealth and a foreign subsidiary from the 2017 through 2020 tax years, according to the May filing. The IRS is seeking to “significantly increase taxable income” for each of those years, and could seek similar adjustments for later years. UnitedHealth is not conceding.

Read the full report at Fortune ↗

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In brief
What's the story?
UnitedHealth Group is contesting an Internal Revenue Service proposal to increase its taxable income over how it priced transactions with one of its foreign subsidiaries, a dispute the company disclosed in a quarterly filing in May and repeated in its August filing. The notices cover transactions between UnitedHealth and a foreign subsidiary from the 2017 through 2020 tax years, according to the May filing.
How widely is it covered?
1 outlet, average source rating 6.0/10.
When was it last updated?
1m ago.
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    The IRS is scrutinizing how UnitedHealth moved money through foreign subsidiaries—and whether it underpaid taxes

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    Fortune
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organizationInternal Revenue ServiceorganizationIRSorganizationUnitedHealth Group
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