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Alcoa v. United States

ELR Citation: 37 ELR 20289
Nos. No. 06-1635, (3d Cir., 11/28/2007)

The Third Circuit affirmed a lower court’s grant of the government’s motion for summary judgment denying appellant’s claim that its environmental cleanup costs qualify for beneficial tax treatment under §1341 of the Internal Revenue Code. A taxpayer’s cleanup expenses do not qualify as restored moneys under §1341 where such expenses do not equate to the restoration of particular moneys to the rightful owner and did not arise from the same circumstances, terms and conditions as the taxpayer’s original acquisition of income in that particular tax year.