Global

Details

  • Service: Audit, Tax
  • Industry: Energy & Natural Resources, Oil & Gas
  • Type: Business and industry issue
  • Date: 8/21/2012

IRS Increases Scrutiny of Refinery Turnaround Costs 

This article from the August 22, 2011, issue of What's News in Tax discusses how the IRS has increased its focus on refinery turnarounds, what refinery owners should consider when determining how to account for expenses incurred in connection with turnarounds, and what this might mean for owners of similar facilities – electric generation plants, chemical plants, pulp and paper mills, and natural gas processing facilities.