A STEP TOO FAR? THE IRS PROPOSES NON-DEDUCTIBILITY OF DISGORGEMENT

Partner Philip Urofsky and counsel Richard Gagnon authored an article for Bloomberg Tax titled “A Step Too Far? The IRS Proposes Non-Deductibility of Disgorgement.” The article argues that if proposed rules allowing deductions for disgorgement and forfeiture are retained, those disallowances will become yet another, albeit hidden, penalty. This would contravene sound public policy and the plain language of the statutory exception for restitution, the authors state.

Read “A Step Too Far? The IRS Proposes Non-Deductibility of Disgorgement.”