Monday, November 17, 2008

AIG Seeks IRS Refund for $329 Million

Weeks after getting billions of dollars in federal bailouts, American International Group Inc. (AIG) is seeking over $300 million from the Internal Revenue Service (IRS).

According to the Wall Street Journal, “the clash dates from before the bailout,” and that “the company disclosed in a securities filing this week that it filed a ‘claim for refund’ with the IRS” for $329 million.

However, AIG’s timing of the announcement comes shortly after the company received an estimated $150 billion in multiple bailouts from the Federal government. Additionally, the company also made headlines for lavish weekend conferences costing hundreds of thousands of dollars. claims that AIG is in “the peculiar position of effectively using government funding to fight the U.S. government.”

Blog Archive