Facebook $429M Tax Refund Even Without Paying Taxes

Believe it or not, Facebook will be getting a $429M tax refund.

Facebook made about $1.1 billion dollars in profit last year in the United States, but paid no federal or state income tax for 2012. Yet, they’re expected to receive a refund of $429 million dollars thanks to a tax deduction for executive stock options.

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The social media company also revealed that its site was hacked in recent weeks. They say intruders breached the system but no sensitive user information was taken. A security expert with knowledge of the attack said it appears to have originated in China, but Facebook has not confirmed that information.

The Citizens for Tax Justice has posted a full report about this new.