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Taxation & Estate Planning

: TaxProf Blog

$20b Gulf Coast Disaster Payments: Income to Victims, Deductible by BP

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Unless Congress enacts special tax legislation in response to the Gulf of Mexico oil spill, the $20b in disaster payments would be income to the Gulf Coast residents and deductible by BP: Associated Press, Gulf Coast Residents Unsure If Claims Are Taxed: [P]eople up and down the Gulf Coast reeling...

Full post as published by TaxProf Blog on June 22, 2010 (boomark / email).

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