Toward the end of the last millennium, Ford thought it might owe the IRS some money for possibly underpaying taxes between 1983 and 1994. To convince the IRS to halt the accrual of interest on any amount Ford might have underpaid, Ford gave the IRS a lump sum of cash.
The Asahi Shimbun is reporting that Toyota just got hit with a 2 billion yen bill for failure to report about 6 billion yen in taxable income from as far back as March 2004. Although the Nagoya Regional Taxation Bureau discovered Toyota's omissions, they didn't make an official announcement. But Asahi's sources reported that the back taxes were levied because Toyota sold parts below their market value to two overseas subsidiaries. It was mainly Camry parts going to Australia that allowed indirec