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Mark Zukerberg Owes IRS One Billion In Taxes
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Story By: Larry Stine

 

 

 
 
 
   
   
  Originally Published on: 3/31/2013

  It might be time for Mark Zuckerberg to un-friend Uncle Sam.   The Facebook C.E.O. is expected to owe the Internal Revenue Serice more than $1-billion in taxes for 2012.   The momentous bill stems from his decision to exercise a stock option and buy more than $60-million Facebook shares when the site went public.   Even though we don't know exactly what he'll owe, it is known that the IRS will treat his stock options as income, which translates to roughly %2-billion.   And since Zuckerberg's tax rate is close to 50 percent, well, you can do the math.   Zuckerberg knew the giant tax bill was coming, so he sold more than 30-million shares during Facebook's I-P-O to cover it, according to a Facebook regulatory filing.  
   
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