Amazon Fighting $234M Tax Deficiency In Court

It looks like Amazon doesn't agree with that $234 million tax bill it was slapped with late last year. According to court filings, the company is contesting IRS tax calculations for money transfers between U.S. operations and its European subsidiaries. The case centers on the pricing of payments among company units, an issue on which the government has lost some multi-million dollar cases against big companies. "Transfer pricing" refers to how multinational corporations value goods and services moving across international borders from one corporate unit to another. The prices are frequently managed to reduce corporations' global tax costs.