LB&I 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 - LB&I
Page Last Reviewed or Updated: 23-Mar-2013
