No Tax Deductions for Workplace Harassment Severance Payments
This bill aims to prevent companies from deducting severance payments made to employees terminated due to workplace harassment from their taxes. This means businesses will not be able to reduce their tax burden when paying such settlements, discouraging the concealment of harassment issues. It will impact company finances but may foster greater accountability for a safe work environment.
Key points
Companies will not be allowed to deduct severance payments made to employees terminated for harassment (sexual, racial, gender, age, disability, etc.) from their taxes.
The change applies to payments made in tax years ending after the law's enactment date.
The goal is to increase corporate accountability and discourage 'hush money' settlements that allowed problems to be hidden.
Status:
Expired
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