Bill114th CongressFiled Jan 13, 2015Taxation
S. 169
No Tax Write-offs for Corporate Wrongdoers Act
Bill journey · stage 2 of 5
Under committee review
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What it doesSummary introduced in senate (Jan 13, 2015)
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.
What just happenedJan 13, 2015
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S204-205)
Who’s behind it
Sen. Leahy, Patrick J. [D-VT](D-VT)Sponsor
1committees2actions5subjects
- Introduced in SenateJan 13, 2015
- Jan 13, 2015IntroReferral
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S204-205)
Finance Committee - Jan 13, 2015IntroReferral10000
Introduced in Senate