DHL Express and Procter & Gamble have both filed suit against the Internal Revenue Service in recent weeks demanding the agency return money they claim is owed to them.
DHL wants to recover a $500,000 deposit in an escrow account seized by the IRS after the bankruptcy of jet charter company Jet Network. The delivery company had put the money into an escrow account to buy future charter service from Jet Network and contended that the IRS unlawfully seized the money. DHL is just one of Jet Network's creditors who have filed for a total of $24.2 million in claims, according to the South Florida Business Journal.
In the P&G case, the consumer products giant claims the IRS overcharged it $435 million after auditing the company's returns for 2001-2005. P&G has already paid the money, but is suing the IRS to recover it. The dispute centers around credits and deductions for technologies that P&G donated to research foundations, universities and hospitals, according to the Associated Press, as well as the valuation of artwork donated to institutions such as the Cincinnati Museum of Art. P&G and the IRS disagree on the valuation of the donations and how much the company should be allowed to deduct.
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