FoMoCo sues feds for $445m in overpaid taxes

The idea of having Uncle Sam come after you for back taxes is an unpleasant thought for any American. It's another story altogether when the feds are the ones doling out the Benjamins, though, as Ford is learning. The Blue Oval is officially suing the government for $445 million in overpaid taxes between 1983 and 1989 and again from 1992 to 1994. Ford wasn't overly excited about filing a lawsuit against the IRS, but due to the overwhelming amount of money involved and the fact that Ford can use all the cash it can get its hands on, the company felt it had little choice. The government actually claims to have paid the money in full, but Ford contends that the interest was not fully repaid. Considering that the additional interest was nearly half a billion dollars, we're guessing Ford really overpaid back in the day.
[Source: Detroit News]

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