Finance & markets · 13/05/2020
IRS Proposes Regulations on Deduction of Fines and Penalties
The IRS has proposed new regulations that provide guidance on deducting certain fines, penalties, and other amounts, as well as information reporting requirements for taxpayers who pay or incur these amounts, particularly those related to government investigations and inquiries.
Original source language: Federal Register — Department of the TreasuryOpen original release →