The U.S. Internal Revenue Service is looking into Uber Technologies Inc.'s tax returns for tax years 2013 and 2014, according to the company's full quarterly report released June 4.
The ride-hailing firm disclosed that it is also under examination by various state and foreign tax authorities and said that the timing of the closure or resolution of the audits is "highly uncertain."
In addition, Uber said it expects unrecognized tax benefits to drop by at least $141 million within the next year.
In April, the company expected unrecognized tax benefits related to the audit to be reduced by at least $127 million within the next 12 months. The company said the possible reduction in unrecognized tax benefits is related to "ongoing matters with tax authorities" regarding its transfer pricing options.
For the three months ended March 31, the company's gross unrecognized tax benefits jumped by $1.3 billion.