IRS Delivers FedEx A $319M Tax Hit

CNNMoney   |   December 21, 2007 10:01 PM


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FedEx was ordered to pay $319 million in back taxes by the IRS over a disagreement on how the company classified workers for its ground-delivery business, it said in a filing to the Securities and Exchange Commission Friday.

The IRS ruled that in 2002 workers that FedEx considered independent contractors were actually employees of the company, requiring them to pay back taxes for the year.

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In another war, American Corporations paid 52% of all Federal revenues in 1945. Now the rate is 7% of all Federal revenues collected. Cheating and other tax evasion schemes, including off-shoring, is seeen as perceptive and righteous.
The ethos of modern conglomerates is "Wealth Over Country." And their bought political horse power has turned that ethos into grim reality for our bankrupt nation.

    Favorite    Flag as abusive Posted 01:43 AM on 12/22/2007

The Iraq war bills are coming due.

    Favorite    Flag as abusive Posted 01:10 AM on 12/22/2007
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But how often does any corporation actually pay a fine , and one this big? Not often under the Bush administration. There's press coverage, and pats on the back for those who hand out the fines, but the company actually cutting a check for it? Hardly any actually pay.

    Favorite    Flag as abusive Posted 01:03 AM on 12/22/2007

That's what comes from discontinuing the employee pension plan, Fred. Karma stings like a bitch, don't it?

    Favorite    Flag as abusive Posted 12:38 AM on 12/22/2007
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