Weyerhaeuser Wins Timber Tax Case

Wed., Jan. 22, 1997

Compiled From Wire Services

The government lost a Supreme Court appeal Tuesday aimed at reducing a company’s tax deduction for timber destroyed by the Mount St. Helens volcano eruption.

The court, without comment, turned down the government’s argument that Weyerhaeuser Co. is being allowed too large a deduction for damage caused by the volcano eruption and unrelated forest fires.

Weyerhaeuser, based in Tacoma, sought a $23.4 million tax deduction for timber damaged or destroyed from 1980 through 1983 during forest fires and the Mount St. Helens eruption. The company said the actual value of its loss was $236 million.

The Internal Revenue Service allowed a deduction of about $3 million.

Weyerhaeuser sued in the Court of Federal Claims, saying the IRS used the wrong formula to calculate its deduction.

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Weyerhaeuser Wins Timber Tax Case

Jesse Tinsley

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