UnitedHealth Got IRS Notice Proposing Increasing Taxable Income

UnitedHealth Group Inc. received a notice from the Internal Revenue Service in March proposing to increase its taxable income for prior years, the company said in a filing.

• Notice pertained to transactions from 2017 to 2020 involving “intercompany transfer pricing with a foreign subsidiary”
• IRS seeks to “significantly increase taxable income” for the periods and could also seek adjustments for subsequent years
• UnitedHealth disagrees with IRS and says “our tax positions are properly supported”
• The company will “pursue all available administrative and judicial remedies” and believes reserves for uncertain tax positions are adequate
• A UnitedHealth representative didn’t immediately respond ...