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IRS Delivers FedEx A $319M Tax Hit

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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.

Read the whole story at CNNMoney