Microsoft Corp. MSFT, 0.01% on Wednesday said it has received a notice from the Internal Revenue Service that it owes $28.9 billion in back taxes, plus interest and fines, for the tax years 2004 to 2013.
President Biden is reportedly planning to unveil a series of major tax hikes on billionaires, investors, and those making above $400,000 as part of his administration's aim to reduce the deficit.
