GE Sues IRS For More Than $600 Million

GE Sues IRS For More Than $600 Million
(Washington, DC) -- General Electric is suing the IRS for a tax refund of more than half a billion dollars. GE claims the IRS wrongly ruled that the company couldn't claim a two-point-two-billion-dollar loss from the sale of a subsidiary in 2003. According to GE, the IRS owes the company a refund of more than 400-million dollars plus more than 200-million-dollars in interest. The IRS isn't commenting on the suit.