Federal Government Owes Ford Money Blog Post at Automotive.com
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Federal Government Owes Ford Money

Posted July 22 2008 06:53 AM by staff 
Filed under: Miscellaneous, Ford

The Ford Motor Co. is squeezing to get as much cash as it can from wherever it can. Good for them.



Now the troubled American automaker has turned its eye on the  federal government. Why? Apparently it overpaid on its taxes. Funny, because usually it’s the other way around.

The overpayments occurred in 1983-89, 1992, and 1994, money that should have been sitting in Ford's bank coffers accruing interest. In fact, the company is looking at $445 million for said interest. 


Ford has filed against the U.S. government to get that interest. The IRS has declined to comment since negotiations broke down last year. (No shock there.)

Our take? Irony visits even the IRS, apparently.



via Chicago Tribune



COMMUNITY COMMENTS
Edward A. Sanchez   (July 22 2008 10:46 AM)

Almost a half-bil isn't insignificant. I hope Ford can get its money back.
 
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