IRS launches probe into UnitedHealth over alleged tax avoidance from 2017-2020
UnitedHealth Group is under investigation by the Internal Revenue Service, which says the insurer underpaid taxes by moving money to a foreign subsidiary during 2017-2020.
The IRS is seeking to increase UnitedHealth's taxable income for that period and may also adjust taxes for years after 2020. UnitedHealth disclosed the IRS notices in a recent regulatory filing, noting they were received in March.
Audits of this kind are uncommon and focus on profit-shifting within large corporations. Given UnitedHealth's status as one of the world’s biggest revenue generators, the probe could involve a significant financial liability.
This writeup was produced by pharmadog from original reporting by STAT.
Original headline: “STAT+: UnitedHealth faces IRS probe over potential tax avoidance”
read at STAT ↗
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