Tag: UPS

Appeals court rejects internal revenue servcies request for new hearing in its fight to get United Parcel Service to pay back taxes and penalties related to UPS' operation of offshore captive reinsurance program

Posted by | Sep 26, 2001 | |

ATLANTA (BestWire) – The Internal Revenue Service lost another round in its fight to get United Parcel Service (NYSE:UPS) to pay back taxes and penalties related to the delivery firm’s operation of an offshore captive reinsurance program.

The U.S. 11th Circuit Court of Appeals in Atlanta rejected an IRS request for a new hearing on a judicial panel’s June decision that UPS’ former operation of Overseas Partners Ltd. was a legitimate business operation.

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UPS won’t have to pay back taxes

Posted by | Sep 21, 2001 | |

United Parcel Service Inc. won’t have to pay $1.8 billion in back taxes, as a federal appeals court declined the Internal Revenue Service’s request to hear further arguments on the matter. A U.S. Circuit Court of Appeals in Atlanta rejected the IRS’s request that the entire court revisit the case. In June, a three-judge panel of the court overturned a 1999 ruling that ordered the world’s largest package-delivery company to pay the tax bill.”

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United Parcel Service remains interested in making acquisitions to expand its menu of services.

Posted by | Sep 7, 2001 | |

United Parcel Service remains interested in making acquisitions to expand its menu of services. UPS has made 20 acquisitions in the past year. Most of the have been very, very small but some – notably its takeover of Fritz Cos. – have greatly expanded UPS’s capabilities in freight forwarding and customs brokerage. UPS is working very aggressively to improve Fritz’ information technology platform.

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UPS eyeing more buys

Posted by | Sep 6, 2001 | |

United Parcel Service remains interested in making acquisitions to
expand its menu of services, said Kurt Kuehn, vice president of investor
relations for the express and logistics provider. Kuehn said UPS is looking
for opportunities in supply chain management, the financial area and
technology.

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