Coca-Cola Owes IRS $6 Billion

Coca-Cola owes $6 billion dollars to the Internal Revenue Service, the U.S. tax court made in a ruling on Friday.

That amount stems from an ongoing dispute since 2015 with the IRS. 

The beverage company received a letter saying it owed $2.7 billion for the 2007-2009 tax years.

Coca-Cola was accused of avoiding federal taxes by shifting too much of its profits to overseas subsidiaries.

Coca-Cola said it plans to appeal. The company will have 90 days to file that appeal.