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FAQs for Hurricanes Victims - Murphy Oil Payments

(7/2/07) Q: What is the proper federal tax treatment of payments under settlement of Murphy Oil USA, Inc., Class Action Lawsuit?

A: General guidance is provided in a memorandum prepared by IRS Chief Counsel dated June 25, 2007. It should not, however, be cited or relied upon as precedent.

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Page Last Reviewed or Updated: 28-Apr-2014