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Meta’s AI tax credits cut 2024 bill by $2B

By Drooid · Oct 1, 2026, 10:37 PM UTC · How we work

Summary

Story summary

Meta claims billions in research tax credits for its AI data centers, cutting its 2024 tax bill by $2 billion.
EY approved Meta’s tax strategy and has promoted it to other companies.
Meta set aside $18.74 billion for possible IRS challenges, a 45% increase since 2022.
The Joint Committee on Taxation projects the credit will cost the U.S. $32.1 billion in 2025, with Meta over a tenth.

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Story summary

Meta claims billions in research tax credits for its AI data centers, cutting its 2024 tax bill by $2 billion.
EY approved Meta’s tax strategy and has promoted it to other companies.
Meta set aside $18.74 billion for possible IRS challenges, a 45% increase since 2022.
The Joint Committee on Taxation projects the credit will cost the U.S. $32.1 billion in 2025, with Meta over a tenth.