H.R. 6700 · 112th Congress
Stop Deducting Damages Act of 2012
- Stage
- In committee
- Sponsor
- Peter Welch
- Introduced
- 2012-12-20
- Latest action
- 2012-12-20 · Introduced in House
Summary
Stop Deducting Damages Act of 2012 - Amends the Internal Revenue Code to: (1) deny a tax deduction for any amount paid or incurred for punitive damages in connection with any judgment in, or settlement of, any legal action; and (2) include any amount paid as punitive damages in gross income for income tax purposes.