IRS Targets GlaxoSmithKline

GlaxoSmithKline has said that its long-running, multibillion-dollar tax dispute with the Internal Revenue Service just got bigger. The UK-based drug giant said it had received a claim from the IRS alleging that $1.9 billion is owed for the years 1997-2000 for profits from Glaxo Wellcome, which merged with SmithKline Beecham to form GlaxoSmithKline in 2000.

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