Tax Issues and the Gulf of Mexico Spill

Tax Issues and the Gulf of Mexico Spill

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This is a print on demand edition of a hard to find publication. The explosion of the Deepwater Horizon oil rig and subsequent oil spill into the Gulf of Mexico has led to substantial damages, particularly in the form of lost wages and income. BP has begun to make interim payments to compensate for lost income resulting from the oil spill. Policymakers may consider exploring alternative mechanisms for providing relief to the affected region. One option is to provide relief through the tax code by adopting measures similar to those employed following past major disasters. Contents of this report: (1) Tax Relief for Natural Disasters Versus Oil Spill Relief; (2) Payments to Oil Spill Victims: Selected Legal Issues and Analysis; (3) Oil Spill Tax Relief: Policy Options; (4) Tax Policy Options: Economic. Illus.Legal Analysis of Payments and Tax Relief Policy Options Molly F. Sherlock ... 65 KETRA Sec. 101. 66 For example, the IRS expedited review of applications for tax exempt status following the Northridge ... For Congressional Research Service 12 Tax Issues and the Gulf of Mexico Oil Spill IRA Distributions Charitable Relief.

Title:Tax Issues and the Gulf of Mexico Spill
Author:Molly F. Sherlock
Publisher:DIANE Publishing - 2011-01


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