Amgen, Coke Set Aside Only Fraction of Billions They May Owe IRS

Amgen Inc. may ultimately have to pay as much as $10.7 billion in taxes, interest and penalties to the IRS—nearly as much as the company’s total profits for the past two years. Coca-Cola Co. may owe the IRS up to $16 billion—about as much as its earnings for the past year and a half. Airbnb Inc. may have to pay $1.9 billion.

The amounts that the companies have actually set aside to prepare for potential payment of those huge IRS bills? Not so much.

Coca Cola has reserved just 3%, or $465 million, of its giant possible bill. Amgen ...