MetLife must pay $2M tax-amnesty fine, court rules
June 25, 2013 by AP Staff Writer
SPRINGFIELD, Ill. (AP) – The Illinois Supreme Court has ruled that Metropolitan Life Insurance Co. must pay a $2 million tax penalty imposed by a 2003 amnesty program even though it didn’t know it owed extra taxes at the time.
Justices decreed Thursday that MetLife must forfeit the enhanced penalty even though an audit showing it underpaid its 1998 and 1999 taxes wasn’t completed until 2004 — after the amnesty.
The Illinois Department of Revenue ran the amnesty for six weeks in fall 2003. Click here to read…
Originally Posted at LifeHealthPro on June 20, 2013 by AP Staff Writer.
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