Report
Guide To The New Rules For The Deductibility Of ‘Misconduct’ Payments
Government- And Quasi-Government-Imposed Penalties, Fines, And Other Amounts And Payments Related To Sexual Harassment
February 2018Recent US tax reform legislation P.L. 115-97, commonly known as the Tax Cuts and Jobs Act, made sweeping changes to when and how a taxpayer will be able to deduct payments made to settle claims of particular acts of misconduct, specifically government- and quasi-government-imposed fines and payments related to sexual harassment.