IRS Logo
Print - Click this link to Print this page

Gulf Oil Spill Information Center

Update Feb. 3, 2011 — Additional questions and answers and a new notice are now available below through links on this page.

Ayuda en Español: Centro de Información del Derrame de Petróleo en el Golfo

Help for Taxpayers

The IRS has opened a special telephone line for taxpayers affected by the Gulf oil spill. Those with questions about the BP payments or who are experiencing filing or payment hardships because of the oil spill should contact the IRS at 866-562-5227. The special services phone line will operate weekdays from 7 a.m. to 10 p.m. local time.

Payments and Claims

The existing law dictates whether payments received from BP for losses, damage and injuries are taxable. See these technical questions and answers for more.

 

Reason for Payment

Tax Treatment

Lost wages or income Taxable
Property damage Non-taxable (if payment does not exceed basis in property)
Physical injury Non-taxable

 

 

 

 


 

Other Resources

For more resources on tax issues, see the Individuals, Small Business and Self-Employed and Forms and Publications sections of this website. 

Related Items:

 

Page Last Reviewed or Updated: 05-Feb-2014