Jul 11th, 2008 by Liz Opsitnik
Ford filed a lawsuit Thursday against the Internal Revenue Service, claiming it owes them nearly half a billion dollars in interest payments on overpaid taxes, reports the Detroit News.
Ford’s lawsuit claims the IRS owes them $445 million in interest payments on corporate taxes the automaker overpaid between 1983 and 1989 and between 1992 and 1994.
The IRS has already refunded the excess payments and some interest, but Ford says not all of it.
“We believe the IRS failed to pay the correct amount of interest,” said Ford spokeswoman Marcey Evans. “We tried to resolve it at the administrative level without success. Because of the size of the amount and the dispute, we had no choice but to file.”
Ford lost $2.7 billion last year and is laying-off 15 percent of its North American salaried workers. It seems Ford is doing what anyone would do when they need money – collect from those who owe you money!
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