S. 794 · 112th Congress
Protecting American Taxpayers from Misconduct Act
- Stage
- In committee
- Sponsor
- Patrick Leahy
- Introduced
- 2011-04-12
- Latest action
- 2011-04-12 · Introduced in Senate
Summary
Protecting American Taxpayers from Misconduct Act - 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.