Memo to AIG

Jim Croce sang: "You don't spit into the wind, you don't tug on Superman's cape, you don't pull the mask off the old Lone Ranger, and you don't mess around with Jim." I would add to that - you don't sue the IRS.

For those who haven't heard, AIG leaders in their finite wisdom, are suing the IRS for $306 million in back taxes. The same American International Group (AIG) that is being kept afloat by a $170 billion dollar government bailout has now decided they were overtaxed by the government to the tune of $306 million dollars. The leadership was so aggrieved by the government's alleged over taxation, they asked that the government pay their court costs and attorney fees. That's chutzpah! What lead their leaders to believe this was good idea? Suing the IRS is not a smart move, it only ensures that every AIG employee from the CEO to the mail room clerks will be audited for the next 10 years. In addition to that, the audits will also be retroactive for the last 7 years. Congratulations and good luck with that!