A bill to amend the Internal Revenue Code of 1986 to deny a deduction for amounts paid as restitution or other damages for violations of the securities laws, for violations of law involving fraud, and pursuant to certain settlement of certain actions brought by the Securities and Exchange Commission.

referredUnited States· United States Congress· EN

Introduced

8 January 1987

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to deny a business expense deduction for any amounts paid as restitution or damages to a party: (1) injured by a violation of a securities law or a violation of law involving fraud; or (2) pursuant to a settlement agreement reached between the taxpayer and the Securities and Exchange Commission.

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Documents

1 official file

Introduced in House
summary · EN · 8 January 1987
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/100th-congress/house-bill/600
Open data entity: https://api.congress.gov/v3/bill/100/hr/600