H.R.3445 - Stop Deducting Damages Act of 2013

To amend the Internal Revenue Code of 1986 to disallow deductions for the payment of compensatory and punitive damages to a government, and for other purposes. view all titles (2)

All Bill Titles

  • Short: Stop Deducting Damages Act of 2013 as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to disallow deductions for the payment of compensatory and punitive damages to a government, and for other purposes. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
10/30/13
 
 
 
 
 
 
 

Official Summary

Stop Deducting Damages Act of 2013 - Amends the Internal Revenue Code to: (1) deny a tax deduction for any amount paid or incurred for compensatory or punitive damages in connection with any judgment in, or settlement of, any action against a government; and (2) include in gross income any

Official Summary

Stop Deducting Damages Act of 2013 - Amends the Internal Revenue Code to:
(1) deny a tax deduction for any amount paid or incurred for compensatory or punitive damages in connection with any judgment in, or settlement of, any action against a government; and
(2) include in gross income any amount paid as insurance or otherwise due to liability for punitive damages.

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