Ford Motor Company is suing Uncle Sam for more than $445 million in interest payments on corporate taxes that were supposedly overpaid between the years 1983 to 1989 and 1992 to 1994. Ford claims the Internal Revenue Service owes nearly half a billion dollars in interest payments on overpaid taxes but the IRS claims they have already refunded those payments.

Ford spokeswoman, Marcey Evans stated in an interview "We believe the IRS failed to pay the correct amount of interest" and "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". The decision to sue came into play as Ford has been trying to "cut the fat" and become profitable in 2009, after losing nearly $2.7 billion last year alone. No further details have been released.


Source: Detroit News