Home \ Keywords \ $13 billion settlement

You are here

$13 billion settlement

Deducting the Costs of a Government Settlement

"Taxes are inevitable, but not so deductions. And that has become an issue of late as the courts weigh in on whether a taxpayer — either an individual or a company — can deduct the costs related to a government enforcement action.

"A recent decision from the Court of Federal Claims in Washington looked at whether the forfeiture of the proceeds from insider trading qualifies for a deduction, raising the question of how the tax code may be seen as indirectly subsidizing wrongdoing.

Pages