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S. 169

BillFederalSenateIn Committee
No Tax Write-offs for Corporate Wrongdoers Act
About This Bill
Committee
Latest Action · January 13, 2015
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S204-205)
Congress
114th (2015–2017)
Introduced
January 13, 2015
Cosponsors (0)
None
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Summary

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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.

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