Matthew Jacobs
November 16, 2020 | National Law Journal
Should Disgorgement in Securities Cases Be Considered Tax-Deductible 'Restitution'?The IRS views disgorgement as a penalty, and thus not deductible as restitution, but the Supreme Court recently issued a decision in "Liu v. SEC" undercutting the IRS's rationale. In light of "Liu," the IRS needs to rethink its rationale.
By George Gerachis and Matthew Jacobs
6 minute read
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