Facebook Tax Trial Over Irish Assets to Resume Next June

Facebook Inc.‘s Washington trial in a tax fight against the IRS will resume June 2, 2021, according to an order filed at the U.S. Tax Court.

The order from Judge Cary Douglas Pugh comes after the court had announced it would close and canceled Facebook’s scheduled trial session in June because of the coronavirus pandemic.

• The battle concerns a $1.73 million tax bill on intangible assets, such as technology and trademarks, which Facebook transferred to Ireland about a decade ago. The IRS argues that these assets are worth more than what Facebook claimed.
• Facebook could be ...