Facebook fails to show up for US taxman on Irish tax

Facebook officials failed to show up after getting seven summonses from the US Internal Revenue Service demanding internal corporate records on one of its offshore tax strategies, according to an IRS court filing.

Authorities are examining Facebook’s federal income tax liability for the period to the end of 2010 and are looking at whether the company understated the value of global rights for many of its intangible assets outside the US and Canada that it transferred to a subsidiary in Ireland.

While Facebook has supplied some documents to the tax authority, it hasn’t provided books, records, papers, and other data demanded in seven summonses, the IRS said in an amended petition filed earlier this week at the US District Court for the Northern District of California.