If an SEC civil settlement includes a profit disgorgement and fine, am I able to get a refund or credit for the taxes paid on those profits...

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Customer

If an SEC civil settlement includes a profit disgorgement and fine, am I able to get a refund or credit for the taxes paid on those profits and/or deduct the fine as a business expense?

Last updated 5/18/2018

Victor Santucci EA

Tax Preparer

Hello and welcome to ExpertHelp.com! My name is Victor Santucci EA and I'm going to do everything in my power to answer your question to your full satisfaction!

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Last updated 5/18/2018

Victor Santucci EA

Tax Preparer

Ralph,

There is no straight yes / no answser.

Pleas see the Recent Legislation Limits Settlement Payment Tax Deductions - see if your situation fits into the disussion:

https://www.natlawreview.com/article/recent-legislation-limits-settlement-payment-tax-deductions

Victor Santucci EA

Posted 5/18/2018

Customer

Thank you. I will read the article and get back to you if I have any questions.

Posted 5/18/2018

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If an SEC civil settlement includes a profit disgorgement and fine, am I able to get a refund or credit for the taxes paid on those profits...

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