AIG Claims It Overpaid Taxes, Sues Government
Having succeeded in dispensing tens of millions of dollars to company executives last week as the country -- and Congress -- cried foul, the insurance titan is now suing the government to reclaim millions in taxes. Apparently AIG officials believe they paid the IRS too much and now are demanding a huge tax rebate.
Having succeeded in dispensing tens of millions of dollars to company executives last week as the country — and Congress — cried foul, the insurance titan is now suing the government to reclaim millions in taxes. Apparently AIG officials believe they paid the IRS too much and now are demanding a huge tax rebate.
Rooted in Truth.The Washington Post:
The big insurer is trying to recover $306.1 million of taxes, interest and penalties from the Internal Revenue Service. Among other things, AIG is contesting an IRS determination last year that the company improperly claimed $61.9 million of tax credits associated with complex international transactions.
AIG has also asked a court to make the government reimburse it for money spent suing the government.
[…] AIG believes it overpaid the IRS, and it “has a duty to its shareholders, including the government and other shareholders, to insure that it pays the proper amount of taxes,” spokesman Mark Herr said by e-mail.
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