IRS providing extra tax help for oil spill victims

MOBILE, AL (WBRC) – The Internal Revenue Service has added new information to its website to help those impacted by the Gulf oil spill.

The new info has been added to the Gulf Oil Spill Information Center. There, taxpayers can find guidance on income averaging for fishermen, information about the taxability of reimbursements for clean up and removal costs, and a special section dedicated to payments received under the Vessels of Opportunity Program.

Taxpayers are encouraged to review their tax situation and to be sure they discuss the oil spill issue with their tax preparers.

A special toll-free phone line established for Gulf Oil Spill tax assistance has been set up for those with questions at 1-866-562-5227. This special phone line operates weekdays from 7:00 a.m. to 10:00 p.m. local time.

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