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Revenue service of the U.S. federal government
The Internal Revenue Service (IRS) is the revenue service of the U.S. federal government. It is responsible for collecting U.S. federal taxes and for administering the Internal Revenue Code, the main body of U.S. federal statutory tax law. It is an agency of the U.S. Department of the Treasury and is led by the commissioner of internal revenue, who is appointed to a five-year term by the president of the United States.
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Meta is classifying its AI data centers as experimental projects to claim US Internal Revenue Service (IRS) Research and Experimentation Tax Credits. This strategy cut Meta's tax bill by $2 billion in 2024 and is projected to save $3.9 billion in 2025, according to a New York Times report.
Data center tax exemptions drained $1.6 billion from Virginia’s treasury in fiscal 2025 -- 16 times what the state originally projected. A Senate investigation released October 9 found the One Big Beautiful Bill Act’s bonus depreciation cut Meta’s federal tax bill from $9.6 billion to $2.8 billion