Item 8.01. Other Events.
On October 30, 2009, the Internal Revenue Service's audit team ("Audit Team")
provided us with a revised notice of proposed adjustment with respect to their
employment tax audit for the 2002 calendar year regarding the classification of
independent contractors at FedEx Ground Package System, Inc. ("FedEx Ground"), a
wholly owned subsidiary of FedEx Corporation. The Audit Team has now proposed
that no assessment of federal employment tax be made with respect to any of
FedEx Ground's independent contractors, including those providing the FedEx Home
Delivery service.
While similar issues are still under audit for calendar years 2004 through 2008,
we believe the Audit Team should reach the same conclusion on these issues for
each of those years, as well.
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