Smoked! Cigarette importer denied deduction
$225.00
Description
Abstract: The Internal Revenue Code contains complicated rules regarding the deductibility of settlement obligations. This article looks at one recent case in which the U.S. Tax Court found that an S corporation wasn’t entitled to a deduction for unpaid obligations owed to a qualified settlement fund because payment hadn’t actually been made. Suriel v. Commissioner (Tax Court 2013)
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