Shearman And Sterling

Tax Bill, Supreme Court of the US, Washington DC

Jul 07, 2020

A Step Too Far? The IRS Proposes Non-Deductibility of Disgorgement

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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.

Authors and Contributors

Philip Urofsky

Partner

Litigation

+1 202 508 8060

+1 202 508 8060

Washington DC

Richard Gagnon

Counsel

Tax

+1 202 508 8189

+1 202 508 8189

Washington DC

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