Tax Policy, Environmental Policy, and § 198

Brent Kirwan (J.D. 2013, Temple), Comment, A Clash of Titans: Tax Policy v .Environmental Policy, How to Harmonize Section 198 with Traditional Tax Analysis while Promoting Environmental Policy, 31 Temp. J. Sci. Tech. & Envtl. L. 119 (2012):

This comment will begin by exploring the current IRC provisions affecting environmental remediation, specifically those relating to capital expenditures and deductible trade or business costs. It will then explore the development of the capitalization requirement through relevant case law. Part III will offer an exploration of the policy goals that shaped the creation and enactment of § 198. Finally, Part IV will analyze the application of § 198, in conjunction with the above mentioned tax and environmental concerns, and identify a remedy to the clash between the environmental and tax policies at play in § 198.