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Taxation & Estate Planning

: TaxProf Blog

CRS: BP's Tax Deductions from the Gulf Oil Spill

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The Congressional Research Service has issued Tax Deductible Expenses: The BP Case (R41365), by Molly F. Sherlock: Following the release of BP?s second quarter earning statement, which showed a $10 billion reduction in tax liability for oil-spill-related cleanup and expenses, media headlines have generated public concern, and in some cases...

Full post as published by TaxProf Blog on August 13, 2010 (boomark / email).

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