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CHICAGO-Motorola Inc. said it will fight the attempt by the Internal Revenue Service to retrieve $500 million in what the agency describes as unpaid taxes.
The IRS wants the money based on the company’s financial activities between 1996 and 2000. The agency said the company should remitted $500 million in taxes on an additional $1.4 billion in earnings within the years in question.
In its filing with the Securities and Exchange Commission, the company said this may have an “adverse effect on its financial position, liquidity and its quarterly results in the period investigated.”
