Tag: Internal Revenue Service

Caterpillar settles long-running tax dispute with IRS

PEORIA — Caterpillar has settled a long-running tax dispute with the Internal Revenue Service. The IRS maintained Caterpillar owes the federal government more than $2.3 billion in unpaid taxes and penalties stemming from the company’s alleged tax avoidance practice of funneling U.S. profits through the Swiss subsidiary CSARL, as of 2018. Caterpillar announced it reached a