-By Warner Todd Huston
The Associated Press was very excited to learn that General Electric was going to return its $3.2 billion tax refund to the U.S. Treasury because the company was so embarrassed that it got such a giant refund this year. Why, it was so selfless of GE to be that public minded, AP thought. Only one problem. The story was a hoax and AP fell for it hook, line, and sinker.
Early on Thursday a press release came from GE… or at least AP assumed it came from GE… that announced that the corporate giant was giving back its $3.2 billion tax refund. Saying that the company was “facing criticism over the amount of taxes it pays,” AP assumed that GE wanted to reverse the bad reputation it had earned for having skipped out on paying taxes for 2010.
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Old Media Gets Rolled on Hoax Story”