• Local News
    • San Diego
    • North County
    • East County
    • South Bay
    • Northeastern
    • Temecula
  • Entertainment
    • Music
    • Television
    • Art
    • Theater
    • Film
    • Events
    • Theme Parks
    • Podcast/Radio
    • Museums
    • Books
  • Business
  • National
  • Politics
  • Sports
  • Health
    • Health Business
    • Health Education
    • Medical
  • Lifestyle
    • Travel
    • Food
    • Lifestyle
    • Senior Life
    • Society
  • Home

San Diego County News

Independent publication serving San Diego County

Court rules against Ford Motor Company’s complaint for $445 million in tax overpayment interest

June 5, 2010 By Staff

DETROIT–A federal court in Detroit has denied Ford Motor Company’s $445 million complaint against the United States for alleged tax overpayment interest.

As explained in the court’s opinion, Ford had sent the Internal Revenue Service (IRS) a cash bond to stop the running of underpayment interest on potential corporate income tax liabilities relating to ongoing IRS audits. Ford later asked that the deposits be converted to tax payments.

The IRS eventually determined that Ford had overpaid its taxes, and was entitled to a refund. Because the IRS calculated tax overpayment interest from the date of conversion to a tax payment and not from the date of the deposit, the IRS refunded overpayment interest from the date that Ford requested that its deposits be treated as payments. Ford claimed that the interest should have been calculated from the date it originally remitted the deposits.

In granting the United States’ motion for judgment on the pleadings, Judge Patrick J. Duggan held that the IRS’s interpretation of the overpayment interest statute was reasonable and that “Ford’s challenges to the government’s treatment of its deposits fail as a matter of law.”

Trending
Authorities seek information on two suspects involved in Baskin-Robbins burglaries

Acting Assistant Attorney General John A. DiCicco commended trial attorney Christine S. Hooks on her handling of the case.

40

SHARES
Share on Facebook
Tweet
Follow us

Filed Under: National Tagged With: National

10% off Florsheim with code: LNK10
SodaStream USA, inc

Popular Stories

  • San Diego secures $3.2M to resolve encampments at corridor along I-15
  • San Diego Unified schools recognized as America’s healthiest schools
  • Three teens arrested for robbing man of shoes
  • Driver killed in head-on collision in north county
  • San Diego’s Urban Forest to benefit from $10M federal grant

School Sports




Fall Season! Don't wait for autumn to come! Enter code FALL25 for up to $25 off our fees on flights and plan your fall getaway today.

Categories

  • About Us
  • Archive
  • Checkout
  • Contact Us
  • Listing Form
  • Listings
  • My Account
  • Private Policy
  • Terms of Service
  • Things To Do

Follow @SanCounty

Privacy Policy

Terms of service

Copyright © 2023 San Diego County News