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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of
earliest event reported): October 22, 2008</B>

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<P align="center" style="font-size: 24pt"><B>FedEx Corporation<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
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    <TD width="32%">&nbsp;</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>1-15829</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>62-1721435</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>942 South Shady Grove Road, Memphis, Tennessee<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>38120</B></TD>
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    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(901) 818-7500</B>


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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

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<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="left" style="font-size: 10pt"><B>SECTION 8 &#150; OTHER EVENTS</B>


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    <TD width="3%" nowrap align="left"><B>Item&nbsp;8.01.</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Other Events.</B></TD>
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<P align="left" style="font-size: 10pt; text-indent: 4%">On
October&nbsp;22, 2008, the Internal Revenue Service (&#147;IRS&#148;) withdrew its tentative assessment of
tax and penalties for the 2002 calendar year ($319&nbsp;million plus interest) against FedEx Ground Package System, Inc.
(&#147;FedEx Ground&#148;), a wholly owned subsidiary of FedEx Corporation, relating to the classification of FedEx Ground&#146;s
owner-operators for federal employment tax purposes. The IRS is
continuing its employment tax audit of FedEx Ground for the 2002
calendar year. We are engaged in discussions with the IRS audit team
regarding this matter. We continue to believe that FedEx Ground&#146;s owner-operators are independent contractors and that
no loss is probable in this matter.

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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.



<P align="left" style="margin-left:48%; font-size: 10pt"><B>FedEx Corporation</B>


<P align="left" style="font-size: 10pt">Date: October&nbsp;22, 2008



<P align="left" style="margin-left:48%; font-size: 10pt; margin-top: -11pt">By: <U><B>/</B>s/ John L. Merino&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
<BR>
John L. Merino
<BR>
Corporate Vice President and
<BR>
Principal Accounting Officer





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3


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{"company-data": {"conformed-name": "FEDEX CORP", "cik": "0001048911", "assigned-sic": "4513", "irs-number": "621721435", "state-of-incorporation": "DE", "fiscal-year-end": "0531"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-15829", "film-number": "081135574"}, "business-address": {"street1": "942 SOUTH SHADY GROVE ROAD", "city": "MEMPHIS", "state": "TN", "zip": "38120-", "phone": "9018187500"}, "mail-address": {"street1": "942 SOUTH SHADY GROVE ROAD", "city": "MEMPHIS", "state": "TN", "zip": "38120-"}, "former-company": {"former-conformed-name": "FDX CORP", "date-changed": "19971103"}}
Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported): October 22, 2008
FedEx Corporation
(Exact name of registrant as specified in its charter)
Delaware
1-15829
62-1721435
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
942 South Shady Grove Road, Memphis, Tennessee
38120
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(901) 818-7500
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
SECTION 8 – OTHER EVENTS
Item 8.01.
Other Events.
On
October 22, 2008, the Internal Revenue Service ("IRS") withdrew its tentative assessment of
tax and penalties for the 2002 calendar year ($319 million plus interest) against FedEx Ground Package System, Inc.
("FedEx Ground"), a wholly owned subsidiary of FedEx Corporation, relating to the classification of FedEx Ground's
owner-operators for federal employment tax purposes. The IRS is
continuing its employment tax audit of FedEx Ground for the 2002
calendar year. We are engaged in discussions with the IRS audit team
regarding this matter. We continue to believe that FedEx Ground's owner-operators are independent contractors and that
no loss is probable in this matter.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
FedEx Corporation
Date: October 22, 2008
By:
/
s/ John L. Merino
John L. Merino
Corporate Vice President and
Principal Accounting Officer
3