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.
Your support is crucial...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.
As we navigate an uncertain 2025, with a new administration questioning press freedoms, the risks are clear: our ability to report freely is under threat.
Your tax-deductible donation enables us to dig deeper, delivering fearless investigative reporting and analysis that exposes the reality beneath the headlines — without compromise.
Now is the time to take action. Stand with our courageous journalists. Donate today to protect a free press, uphold democracy and uncover the stories that need to be told.
There’s a crucial institution in Washington that few in the media seem to be paying attention to, even as President Trump quietly makes it his own.
A look at the day's political happenings, including a bipartisan agreement reached on immigration reform and Obama and Clinton give a joint interview on "60 Minutes." A look at the day's political happenings, including a bipartisan agreement reached on immigration reform and Obama and Clinton give a joint interview on "60 Minutes."
A look at the day's political happenings, including AIG's decision on whether to join a lawsuit against the government over the financial crisis bailout and the White House's response to a petition to deport Piers Morgan.
A look at the day's political happenings, including Gabrielle Giffords' new PAC, Elizabeth Warren admonishing AIG and Nate Silver talking politics and data analysis on Reddit.
In the ultimate act of corporate greed, the insurance giant--which received a bailout from the government to the tune of $182 billion--is showing what a truly unscrupulous and morally bankrupt organization it is by mulling whether to join a lawsuit against Uncle Sam over unfair bailout terms.
The natural gas industry is waging an aggressive public relations campaign to bolster investor confidence, despite evidence showing that shale gas is an unreliable resource and that the production process releases large amounts of methane into the atmosphere. The natural gas industry is waging an aggressive PR campaign to bolster investor confidence, despite evidence that the production process releases large amounts of methane into the atmosphere.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.