JS-1153: Treasury Issues Guidance to Clarify Treatment of Environmental Remediation Costs



	FROM THE OFFICE OF PUBLIC AFFAIRS To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader®. February 6, 2004 JS-1153 Treasury Issues Guidance to Clarify Treatment of Environmental Remediation Costs Today the Treasury Department and the IRS issued two revenue rulings to clarify the tax treatment of hazardous waste clean-up costs. The first, Revenue Ruling 2004-17, clarifies that the money taxpayers spend in a current taxable year to clean up environmental contamination that occurred in previous years does not qualify for a special rate adjustment. The second, Revenue Ruling 2004-18, clarifies that the money taxpayers spend for hazardous waste clean up costs may have to be capitalized into inventory costs. Related Documents: Revenue Ruling 2004-17 Revenue Ruling 2004-18