S. 169 · 114th Congress
No Tax Write-offs for Corporate Wrongdoers Act
- Stage
- In committee
- Sponsor
- Patrick Leahy
- Introduced
- 2015-01-13
- Latest action
- 2015-01-13 · Introduced in Senate
Summary
No Tax Write-offs for Corporate Wrongdoers 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.