Two measures introduced in the House would end a tax deduction for settlements and awards. The Settlement Tax Deductions Are Over for Predators (STOP) Act (H.R. 4495) would bar deductions related to sexual harassments and assaults. The Stop Tax Breaks for Sexual Misconduct Act (H.R. 4516) would not only bar deductions; it would allow victims to exclude payments received from gross incomes. Chances of enactment?
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download for Free our newly-updated eBook, "150+ Tax Deductions for Small Business A to Z" Revised to reflect changes in the One Big Beautiful Bill
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