CNF Appeals IRS Tax Ruling
WASHINGTON — CNF Inc. and several other high-flying freight transportation companies want an Internal Revenue Service tax ruling grounded.
The Air Transport Association, some airlines and shippers have joined the fight to get the IRS to change its mind.
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For the Palo Alto, Calif.-based CNF and the others, an IRS determination that air maintenance and repairs have to be capitalized rather than deducted as expenses could be costly.
CNF and its 82 subsidiaries filed a petition asking the U.S. Tax Court to overturn an IRS demand that they pay $87 million in additional taxes for 1987 through 1990.
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