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Tax Law Still Leaves Room for Companies to Write Off Settlements

from Bloomberg BNA

The Justice Department's $20.8 billion settlement with a BP PLC subsidiary over the Deepwater Horizon oil spill raised some eyebrows. The oil giant could write $15.3 billion off its taxable income, the U.S. Public Interest Research Group, a watchdog organization, said at the time of the 2015 deal. more


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