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Ford Motor Company has filed a lawsuit in federal court, claiming it deserves at least $445 million in accrued interest from the IRS.
The years in question are 1983-89, 1992 and 1994 and the issue of interest stems from quarterly tax payments made by Ford that were adjusted after audit. Ford says that the issue is not whether interest is due but that IRS differs with the company as to when interest began to accrue.
The company had been in talks with the IRS to settle but reportedly talks “broke down” and Ford took the step of filing the suit.
{ 4 comments… read them below or add one }
Wow,I’ve been a Chevy guy all my life.But I must say I really do respect and admire any company or person who is willing to stand-up the those thieven thugs…..Lets face the facts here.The irs has been getting way out of line in many,many ways and we the people end up paying for it.I’ve seen many cases where people have gone to jail just for asking them(the irs) to simply show them the law that requires the average american to have to give them a percentage of thier hard earn money every week….and instead of giving them an answer by showing the law/regulations they take everythink you own and lock you up…and in most case,vary illegally.Just ask Mr Joseph Banister @www.freedomabovefortune.com He use to be one of the irs’s finest aware winning agent.till he found out the real truth in the irs’s so called taxing powers…Go get’em Ford
My first post has been up for three days now and still no response….Thats kinda the way the irs act also,Do you work for the irs?If not then maybe you should,or take the time to read Mr Banister’s report that his irs superiors had no answers for.
I would really like to see your response on this.
Don, I’m guessing you don’t read most of my other posts or you’d realize that I have been out of town since Thursday at a conference.
I do read all of my comments, my time has been quite limited for responses.
I had some posts queued and have been filling in as time allows. I plan to spend most of the beginning of the catching up on email and comments.
I haven’t ever heard of any person going to jail just for “asking” for the IRS to show them the law – it’s usually accompanied by some form of tax evasion.
I don’t work for the IRS. I’ve outlined my tax background and my position on this matter all over the blog.
I am familiar with the work of Mr. Banister – he is quite the YouTube pop star. I am also familiar with the IRS’ response (which many folks claim wasn’t made because they did not respond directly to his frivolous claims with a written report) in the form of his disbarment proceedings (http://www.irs.gov/newsroom/article/0,,id=125150,00.html) The State of California agreed, also preventing him from legally practicing as a CPA.
And, as of last month, he was again being investigated by the IRS for his schemes.