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Get It in Writing: Deducting False Claims Act Payments
In fiscal year 2017, the Department of Justice (DOJ) collected more than $3.7 billion dollars from False Claims Act (FCA) cases — part of the $86 billion it has collected from FCA cases since 1986. States and municipalities are aggressively pursuing FCA recoveries as well. For example, California has collected more than a billion dollars in settlements since the enactment of its FCA in 1987.
Whether or not such payments are deductible as business expenses under section 162(a) of the Internal Revenue Code is an important consideration when negotiating a settlement with the government since the corporate tax rate is still at 21%, even with the passage of the Tax Cuts and Jobs Act in December 2017. See, 26 U.S.C.A. §11(b); 26 U.S.C. §162(a).
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