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- H.R.2486
H.R.2486: Stop Deducting Damages Act of 2015
About This Bill
- Introduced May 20, 2015
- Latest Major Action May 20, 2015
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsor
Bill Summary
Stop Deducting Damages Act of 2015 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.
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Bill Actions
| Date | Description |
|---|---|
| May 20, 2015 |
Referred to the House Committee on Ways and Means.
|
| May 20, 2015 |
Introduced in the House by Peter Welch (D-Vt.) |