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1099-reportability of payment for property damage
June 8, 2021
Q. We are issuing a payment to a land owner due to an environmental spill.
We are essentially making the payment to the property owners to accept Restrictions on a portion of their property, which will be a Deed notice and will run with the land in perpetuity:
Potable wells cannot be installed;
Workers disturbing soils will have to be notified of the potential to come in contact with contaminated soils; and,
Any contaminated soil or groundwater that are removed will have to be handled…
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