MARTIN RUETSCHI/Keystone/Corbis
Even the Gulf-of-Mexico mess can’t bite the taxpayer dust.
The Internal Revenue Service isn’t letting British Petroleum get away with the long line of victims receiving payments from the company for lost wages. The AP reports that the agency claims all BP payments are taxable, meaning the oil company would fill out its fair share of paperwork next April.
The news comes in the midst of residents’ confusion regarding whether oil spill claims are taxable. Tax experts told the AP that all income is taxable unless special circumstances have been approved a governing body — either Congress or the treasury department. To date, neither has made a decision on oil spill claims.
In turn, the IRS is planning on holding forums in seven Gulf-area cities on July 17, geared toward helping individuals with tax-related questions stemming from the spill damage.