The IRS Hits Symantec with a $1 Billion Tax Bill

GnoWay writes "Macworld is reporting that the IRS has charged Symantec Corporation with about a 900 million dollar tax bill due to the charge that Symantec and Veritas (purchased by Symantec last year) under-reported the value of intellectual property which they had transferred to their two Irish subsidiaries. Another $100 million is connected to Symantec's 2003 and 2004 reports."

Comments

Values of Non-Physical Objects

[SeanDuggan]

A billion dollars for intellectual property? Gosh, that's like charging $750 for copying one song... Seriously, though, how does one value these things? For that matter, what intellectual property is this? The article is rather vague.