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UnitedHealth faces IRS probe over potential tax avoidance
STAT • • business
Key Points:
- The IRS is investigating UnitedHealth Group for allegedly underpaying taxes from 2017 to 2020 by funneling money through a foreign subsidiary.
- The agency aims to significantly increase UnitedHealth's taxable income for the period under review and may extend the assessment to years after 2020.
- UnitedHealth disclosed receiving IRS notices about the probe in March, which had not been previously reported.
- Such audits targeting profit transfers within large corporations are rare, and given UnitedHealth's status as one of the world's largest companies by revenue, the financial implications could be substantial.
