General Mills Sues IRS Over $6M Interest Refund

Law360, New York (January 31, 2014, 4:37 PM EST) -- Food manufacturer General Mills Inc. on Thursday said the Internal Revenue Service illegally charged the company nearly $6 million in enhanced interest, filing suit against the government for a refund of interest paid between 2002 and 2006.

The tax controversy surrounds a dispute over the applicable date for enhanced interest accrual, with the IRS back-dating accrual up to three years before the interest clock should have started ticking, according to General Mills Inc.

“The IRS erroneously treated the applicable dates for each tax year as the...
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