Motorola Facing Big Tax Bill

Motorola Inc. may have to pay $500 million in additional taxes after the Internal Revenue Service questioned its returns for 1996-2000, Reuters reported.

Motorola said in a filing that it intends to dispute the adjustments proposed by the IRS that could result in additional income of $1.4 billion for the period.

The company also said it sold $1.2 billion in three-year remarketed debt, with JP Morgan Chase & Co. and Merrill Lynch & Co. serving as joint lead managers.