Amgen

Amgen Inc. on April 27 said the U.S. Internal Revenue Service (IRS) is seeking additional back taxes of $5.1 billion, plus interest and penalties, related to the drugmaker’s 2013 to 2015 accounting for profits between the United States and Puerto Rico, the location of most of the company’s manufacturing operations.

When the The Patient Protection and Affordable Care Act (often just referred to as “Obamacare”) took effect, one of the most controversial features was the so-called Cadillac tax. The tax was intended to target high cost health care plans, thus earning the moniker “Cadillac.” The tax hasn’t changed much since it was first dreamed up. It’s […]