Facebook said that while the notice applies only to that year, if the IRS takes a similar position for other years it... The internet company said in a quarterly securities filing on Thursday that the IRS had issued it a “statutory notice of deficiency” a day earlier saying Facebook owes more taxes for 2010. Facebook Inc. said that it could end up owing $3 billion to $5 billion in additional taxes as a result of action by the Internal Revenue Service in a long-running dispute related to how it transferred assets overseas.

Source: Wall Street Journal July 29, 2016 00:00 UTC