The
American Insurance Group (AIG), which was bailed out by US taxpayers not too
long ago, wants $30.2 million tax overpayments back, which dates back to 1991. The
company has filed a lawsuit against U.S. in the US Court of Federal Claims in
Washington on Thursday (American International Group Inc. v. U.S., 12-00437,
U.S. Court of Federal Claim).
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AIG claims that although it
underpaid taxes in 1997, 1998 and 1999 but it overpaid in 1991. After adjusting
for the over and underpayments and accounting for the interest rate, the total
comes down to $30.2 million.
Charles
Ruchelman, the company’s lawyer has written in the complaint, “AIG is bringing
this action to protect itself against the running of the six-year statute of
limitations on suing for additional overpayment interest before final
resolution of its tax liabilities for 1997, 1998 and 1999”
AIG
received a massive $182.3 billion bailout following the 2008 global financial
crisis, after which the U.S. government owned more than 90% of the business.
The business, apparently, has been performing well enough to reduce the U.S.
stake to 61%.
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