Court Denies Ford’s $445 Million IRS Claim

A federal appeals court has ruled that the U.S. Internal Revenue Service does not owe Ford Motor Co. $445 million in interest on overpaid taxes, as the company claims.

The IRS refunded the excess corporate income taxes Ford paid in 1983-1989 and 1992-1994. But the company sued in 2010, alleging the tax agency owed it additional money for interest accrued while the IRS held the extra amount.