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Wednesday, 1 October 2014

Ford loses bid to recoup $450 million interest on overpaid taxes

The company logo is seen on the bonnet of a Ford car during the media day ahead of the 84th Geneva Motor Show in Geneva By Jonathan Stempel (Reuters) - A federal appeals court rejected Ford Motor Co's bid to recoup about $450 million of interest from the U.S. government on taxes overpaid by the automaker. The 6th U.S. Circuit Court of Appeals in Cincinnati did not accept Ford's argument that its overpayments, dating back to 1983, were essentially a loan to the Internal Revenue Service on which it should have been able to accrue interest. Wednesday's unanimous decision by a three-judge panel upheld a June 2010 ruling by U.S. ...








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