The Final Frontier of Tax Avoidance: Elon Musk’s SpaceX Has $1.9 Billion to Gain from Defunding the IRS
itep.org
A year after Elon Musk’s Department of Government Efficiency (DOGE) cut a swath of destruction through vital federal agencies including the Internal Revenue Service, Musk’s apparent antipathy toward the IRS suddenly makes more sense.
  • atzanteol@sh.itjust.worksEnglish
    8·
    1 month ago

    SpaceX’s S-1 form tells us that the company has claimed a total of $1.9 billion in “uncertain tax benefits” (UTBs). These are tax breaks that the company has claimed on its tax forms, but that it believes would more likely than not be rejected by a properly functioning IRS.

    I didn’t think that’s true? In fact from what I’ve found it’s exactly the opposite. That UBS is a list of tax benefits that the company believes are “more likely than not” to be sustained.