Bloomberg News

AIG Sues U.S. Over Alleged $30.2 Million Tax Overpayment

July 06, 2012

American International Group Inc. (AIG:US), which was taken over by the federal government in 2008, sued the U.S. seeking $30.2 million for an alleged overpayment of taxes for 1991.

The lawsuit, filed yesterday in the U.S. Court of Federal Claims in Washington, notes that the insurance company is attempting to resolve underpayments and overpayments of taxes through 1999. The refund request has been pending before the Internal Revenue Service since 2007, according to 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,” Charles Ruchelman, a lawyer for AIG, wrote in the complaint.

The U.S. has a 61 percent stake in AIG, down from more than 90 percent, after a 2008 rescue that swelled to $182.3 billion.

The case is American International Group Inc. v. U.S., 12- 00437, U.S. Court of Federal Claims (Washington).

To contact the reporter on this story: Tom Schoenberg in Washington at tschoenberg@bloomberg.net.

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net.


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    (American International Group Inc)
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