NEW:Meta reportedly used a tax loophole dating back to the 1980s to claim $3.9 billion in research tax credits by classifying AI data-center equipment as experimental “pilot models.”
The credits rose from $700 million in 2023 to $2 billion in 2024, then reached $3.9 billion last year, reportedly reducing Meta’s federal tax bill by 71%.
The New York Times also reports that Meta classified Mark Zuckerberg as a “researcher” to claim a $355 million tax break tied to his $4 billion compensation in 2013.
The IRS is now seeking to recover those tax savings.
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The credits rose from $700 million in 2023 to $2 billion in 2024, then reached $3.9 billion last year, reportedly reducing Meta’s federal tax bill by 71%.
The New York Times also reports that Meta classified Mark Zuckerberg as a “researcher” to claim a $355 million tax break tied to his $4 billion compensation in 2013.
The IRS is now seeking to recover those tax savings.
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$NIGHT
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