BP is refusing to say whether or not they are paying any taxes at all for 2010. This group initially thought that BP was getting a $10 billion tax break but then concluded, it was actually $13 billion. Anyone else think the tax code is ever so slightly wrong?

Responding to BP’s monumental catastrophe cost a massive amount of resources from local, state and federal governments. Now, BP is dealing another massive blow to our nation’s tax revenue.

The $10 billion savings comes after BP wrote-off the $32.2 billion it set aside to cover clean-up costs, fines, and a $20 billion victim compensation fund (which has been notoriously slow and stingy in responding to claims, paying out less than 4 billion so far.3)

But there is an excellent precedent that says BP did not have to deduct these costs for tax advantages. Last year, Goldman Sachs waived a tax deduction it could have claimed as a result of paying $500 million in fines to the Securities and Exchange Commission for giving bad information to mortgage investors.