Apr 9, 04:00 PM

ByteDance Faces Backlash Over US Staff's Tax Bills on Unsellable Shares

ByteDance, the parent company of TikTok, is facing backlash from its US-based employees over significant tax bills on stock shares they are unable to sell. Interviews with more than 12 former and current employees revealed the extent of the financial strain, as reported by Tabby_Kinder & MsHannahMurphy for the Financial Times. The issue has led to eye-watering US tax liabilities for the staff, with some facing millions of dollars in taxes despite the inability to liquidate their shares for cash.

#ByteDance #TikTok #Financial Times #US

Written with ChatGPT (GPT-4).

Sources

Financial Times@FT
2 years ago
TikTok workers in the US have been saddled with millions of dollars in tax liabilities on shares they are unable to sell https://t.co/u7eepYRkC3
Bill Bishop@niubi
2 years ago
TikTok staff face big US tax bills on shares they cannot sell https://t.co/Y8RAxgJEvj via @ft Startup lottery 101. Employees should have gotten their own advice. Sorry, been there
Demetri@Dimi
2 years ago
TikTok staff face big US tax bills on shares they cannot sell https://t.co/GfQCtiBwas via @ft

ByteDance Faces Backlash Over US Staff's Tax Bills on Unsellable Shares

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