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NEW ORLEANS — Out-of-work Gulf Coast shrimper Todd Pellegal spent his first $2,500 check from BP quickly, paying off bills and buying groceries for his family.
He never even considered putting some of it away for taxes.
Now he's among the people up and down the Gulf Coast reeling from the oil spill disaster who are surprised — and frustrated — to find out the Internal Revenue Service may take a chunk of the payments BP PLC is providing to help them stay afloat.
Originally posted by Bravo111
Its a shame that the funds provided from the $20B cant be distributed as quickly as the the tax authorities are attempting to get hold of it.
Originally posted by ~Lucidity
reply to post by dfens
No...it's a tax write off for them. So, see, someone has to pay the taxes.