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IN BRIEF / TAXES

WorldCom, Enron Are Seeking Refunds

May 03, 2003|From Associated Press

Several big firms under investigation for accounting irregularities aim to recoup federal taxes they overpaid based on inflated profits.

WorldCom Inc., Enron Corp., Qwest Communications International and HealthSouth Corp. are pursuing or considering filing for tax refunds or credits for payments made on billions of dollars falsely claimed as earnings. The effort was first reported in the Wall Street Journal.

Senate Finance Committee Chairman Charles E. Grassley (R-Iowa) said he is asking federal prosecutors to consider what action to take.

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