Episode Details

The IRS is targeting Coca-Cola for up to $20 billion in back taxes, claiming the company improperly allocated overseas profits by underpaying royalties for its global brands. The dispute traces back to audits from 2007–2009, with the Tax Court initially siding with the IRS—but now a federal appeals court will decide the case, potentially reshaping transfer pricing enforcement. Coca-Cola argues the IRS is retroactively rewriting rules it previously accepted, while the Supreme Court’s recent strike against Chevron deference may sway the appeals court’s ruling. Either way, this case could dramatically alter how the IRS handles multinational corporations—and impact Coca-Cola’s shareholder value.

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