IRS Wants Cut from BP Payments

By: The Associated Press
By: The Associated Press

The Internal Revenue Service wants its cut from oil spill victims who receive BP payments for lost wages.

The agency says that, under current law, BP payments for lost wages are taxable, just like the lost wages would have been.

The IRS says payments for physical injuries or property loss are generally tax free.

BP officials have agreed to create a $20 billion fund for spill victims, as well as a $100 million fund to support displaced oil rig workers.

The IRS is planning to hold forums in seven cities in the Gulf region July 17 to help oil spill victims with tax troubles or questions.

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  • by Round Rock Location: OK on Jul 4, 2010 at 05:02 PM
    Good comments. Soon there will be no one to tax because there will be a revolt & the people who haven't been paying y-axes will be left out in the cold so to speak. I agree Fair Tax for everyone. Your comments haven't been wasted on me.
  • by wayne morre Location: mobile ala on Jun 30, 2010 at 05:44 PM
    why dont the I R S collect taxs from the 37 illegals working at the Riverview Hotel in downtown Mobile in house keeping.They all claim 7 children so no taxs are taken out while they use stolen S S numbers.Its just down the street from the I R S office they wouldnt have to drive,they could walk.
  • by Anonymous on Jun 28, 2010 at 06:20 AM
    Just one more burden that these people don't need right now.I understand the whole tax thing but the emotional and psychological stress on folks can never be compensated for and now just one more thing, one more form, to worry over. May God bless with his peace and return to them 10 fold what they have lost.
  • by patriot Location: meridian on Jun 27, 2010 at 09:18 PM
    Sure the bloodsuckers want to get theirs first. they have got to provide a wefair check,free medical care and food stamps to all the sorry people who will not do their fair share and let us not forget all those poor poor illegals who cross the border that they just roll the red carpet out for.A great Patriot and President of ours Thomas Jefferson said "The Democracy Will Cease To Exist When You Take A way From Those Who Are Willing To Work And Give To those Who Would Not!" IN THE WORDS OF EARL PITTS "WAKE UP AMERICA!"
  • by Anonymous on Jun 27, 2010 at 10:58 AM
    In response to CARL: What do you mean by remembering in November? lol whether you remember in Nov or two yrs from now the fact remains: the IRS, no matter what-always want their share...You think that by "remembering in Nov" that all of sudden IRS will stop taxing? LOL.....LOL
  • by Not Surprised Location: Meridian on Jun 26, 2010 at 12:08 PM
    So, the IRS wants a "fair share" of whatever BP reimburses businesses for lost wages. Imagine that!
  • by Citizen Location: Meridian on Jun 25, 2010 at 06:23 PM
    Come on people. A person doesn't become exempt from taxes on income because of a disaster. Use your head.
  • by bubba Location: avoiding the IRS on Jun 25, 2010 at 03:35 PM
    u know the government has to get theirs to keep the country going. tax, tax, tax, and more tax. Now it is time for the locals to ask for thier share of the money from people that do not know when they will be able to reyurn to work. KEEP UP THE GOOD WORK we will all soon be broke
  • by CARL Location: PHILLY on Jun 25, 2010 at 01:44 PM
    Give the people a breake, you bunch of blood suckers. we will rember in novermber. WAKE UP AMERICA!!!!!!!!!
  • by Anonymous on Jun 25, 2010 at 01:41 PM
    O.K. Show of hands, who is surprised to hear this? That's what I thought. Typical IRS.
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