WASHINGTON (AP) — The Supreme Court won’t hear an appeal from Ford Motor Co. seeking to recover about $450 million in interest on taxes the company overpaid the Internal Revenue Service.
The justices on Monday left in place a lower court ruling that upheld the IRS’ refusal to pay the interest.
The case began when Ford made an $875 million payment in the 1990s after the IRS said the company had underpaid taxes by nearly $2 billion during the previous decade. Ford initially paid the money as
a cash bond, but later asked the IRS to treat it as an advance tax payment.
The IRS ultimately determined that Ford’s deposit was an overpayment, but said interest started accruing only when it was converted to an advance tax payment. Ford disputed that decision.
- Posted June 26, 2015
- Tweet This | Share on Facebook
Justices won't hear appeal of overpayment
headlines Macomb
headlines National
- Incarceration series includes female inmates but doesn’t tell full story
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Former DOJ official who alleged election fraud violated at least one ethics rule, ethics committee says
- Winston & Strawn will provide reduced-cost legal services for routine tasks under Winston Legal Solutions umbrella
- Should Justice Sotomayor retire? Chemerinsky, White House haven’t joined calls for her to step down
- Which BigLaw firms are increasing lateral associate hiring the most? One made legal headlines last year