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Robin D.
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In looking at Intel Corporation 2008 year end financial statement

Customer Question

In looking at Intel Corporation 2008 year end financial statements how can one determine how much cash they actually paid out in income taxes for 2008 vs the total amount of taxes they owe for 2008?
Submitted: 4 years ago.
Category: Tax
Expert:  Robin D. replied 4 years ago.

HelloCustomer

If you are looking at their information online, click on the Notes to Consolidated Financial Statements (if you are looking at a paper copy then check for the notes section). Down at the bottom you will see the explaination of the examinations by the IRS of Intel.

Basically you will not find a true dollar amount for taxes actually paid form the statement for the 2008 year. This is because the IRS had not examined them for the 2008 tax year as of the publishing of the statement.

Intel Corp has numerous tax benefits granted to them and there are those that believe Intel probably actually paid $10 in state taxes based on these benefits.

See the following link for just one example:

http://www.ocpp.org/cgi-bin/display.cgi?page=cp0803taxsystem

 

The notes section does advise the following:

During 2008, we reached a settlement with the IRS and several state tax authorities related to prior years resulting in payments of $51 million and a decrease in balances related to tax positions taken during prior periods of $103 million.

 

I sincerely XXXXX XXXXX information is helpful,

 

 

Customer: replied 4 years ago.

Thank you. I read that same information and was not clear why they would not pay their taxes. I would have thought they would have paid estimated taxes of some sort. I am generally able to pull the taxes paid directly out of the footnotes as I thought this was a required disclosure. I did have a second part to my question and that was what the 2008 tax liability was per the statement. I realize what they owe is generally different than what they actual pay. Is the amount owed the net due after the deferred taxes or before. (I am looking at Note 23 in the statements)

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