Facebook’s $9 Billion Tax Trial Headed for Spring Finish

The tax battle between Facebook and the IRS over the value of intangible assets resumed for two days of testimony, focusing on the company’s early advertising practices and intellectual property, as it enters the final leg of the trial.

The proceedings resumed virtually at the U.S. Tax Court on Monday, focused on the tech giant’s 2010 tax bill concerning intangible assets that the company transferred to an Irish subsidiary. The IRS claims that the assets, which include trademarks and marketing assets, are worth $13.8 billion, more than double the amount Facebook reported.

A loss for Facebook would leave the company ...