Item 8.01. Other Events.
On November 9, 2009, the Internal Revenue Service's audit team ("Audit Team")
confirmed that no assessment of federal employment tax would be made with
respect to any independent contractors at FedEx Ground Package System, Inc. (a
wholly owned subsidiary of FedEx Corporation) not only for calendar year 2002,
as previously disclosed, but also for the next three calendar years that had
been under audit: 2004 through 2006. While similar issues may be audited for
calendar years 2007 and 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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