News: Symantec hit with $1 billion tax bill .

News: Symantec hit with $1 billion tax bill. The IRS has billed Symantec $1 billion in back taxes. [Macworld]

bq. The IRS claims that both Symantec and Veritas Software Corp. under-priced intellectual property the two companies licensed to their Irish subsidiaries, said Symantec spokeswoman Genevieve Haldeman. Both Symantec and Veritas, which was purchased by Symantec in 2005, set up the Irish subsidiaries for the purpose of doing business outside of the U.S., she said.

Clearly whoever is responsible for making campaign contributions hasn’t been doing a good job.