An Ohio man can’t claim a loss for the $856,000 seized from his corporation after he pled guilty to his role in a bribery scheme, the U.S. Tax Court said Thursday, affirming the Internal Revenue Service’s disallowance because the loss was due to a criminal penalty.
Tax Court OKs Nix Of Deduction For Funds Seized After Bribe
by usoftax_admin | Apr 10, 2025 | Tax News