LMSB Tier III Issue: IRC §198 Expensing Of Environmental Remediation Costs (Commonly referred to as the Federal Brownfield Tax Incentive) |
|
IRC §198 Expensing Of Environmental Remediation Costs (Commonly referred to as the Federal Brownfield Tax Incentive)
Industry: Natural Resources & Construction
The Service is concerned about taxpayers’ awareness of and compliance with the multiple requirements under IRC§198, its related Revenue Procedure 98-47 as well as Schedule M-3 reporting requirements. Further, the Service is exploring the relationship between capitalization requirements of environmental remediation costs and the expensing of such costs.
Return to:
Issue Tiering - LMSB
|
|
|
Page Last Reviewed or Updated: March 23, 2009