Chutzpah of the Week: Bailed-Out Company Wants More Than $30 Million In Taxes Back

If you can believe the AP reports American International Group, the insurance giant saved by a massive federal bailout, wants some tax money back – from 1991.  AIG is suing in Federal Claims Court in Washington for $30.2 million. It says that's how much interest is owed from an overpayment 21 years ago.  AIG said it underpaid taxes for 1997, 1998, and 1999. But it said the government owes it interest for an overpayment in 1991. It said the two claims work out to $30.2 million in the company's favor.

New York-based AIG said it filed the lawsuit on Thursday because the statute of limitations on its claims was about to run out. The statute of limitations runs for six years on the amounts, which AIG said were determined in July and August 2006.

AIG's $182.5 billion bailout was the largest of the financial crisis.

Read all about it at http://www.huffingtonpost.com/2012/07/06/aig-tax-interest_n_1654990.html