>On July 31, the U.S. Tax Court ruled that there were deficiencies in income tax dues payable by Coca-Cola to the IRS for the 2007–09 period to the tune of approximately $2.7 billion. Adding in interest, the total amount payable by Coca-Cola comes to around $6 billion, the company said in an Aug. 2 press release. >Coca-Cola said it will defend its position and criticized the decision, stating “the IRS and the Tax Court misinterpreted and misapplied the applicable regulations involved in the case.” >With 90 days to file a notice of appeal, Coca-Cola intends to pay the roughly $6 billion owed while it proceeds with the appeals process. >The issue stems from a notice sent by the IRS to Coca-Cola in September 2015, in which the agency sought $3.3 billion in additional income tax for 2007–09. >The IRS said in the notice that it would reallocate more than $9 billion in income from the company’s accounts, thus resulting in the tax dues. The soft drinks manufacturer claimed the reallocation violated a previous calculation methodology that was agreed upon by both sides. . . [Archive](https://archive.today/ELHLz)