Tax Relief for Consumer Claim Legal Fees
This bill aims to reduce the tax burden for individuals who win consumer lawsuits or settlements. It allows attorney fees and court costs related to these cases to be deducted from gross income, meaning you'll pay less tax on the awarded amount.
Key points
Allows deduction of legal fees from gross income for successful consumer claims.
Covers a wide range of consumer protection violations, including fraud, unfair credit practices, and defective products.
Applies to costs paid in tax years ending after the act's enactment for judgments or settlements in those years.
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.