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Companies Involved in Accounting Fraud Try to Recover Overpaid Taxes
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| Contributor | Servo |
| Last Edited | Servo May 02, 2003 11:47pm |
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| Category | News |
| News Date | Saturday, May 3, 2003 05:47:15 AM UTC0:0 |
| Description | Companies claiming two of the largest cases of accounting fraud in U.S. history are now trying to recover the taxes they paid on their inflated earnings. Telecommunications firm WorldCom, now known as MCI, has already collected tax refunds of $300 million it overpaid. Failed energy giant Enron has begun the process of filing for tax refunds on its overstated earnings as well.
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