IRS: Bribes and Kickbacks “usually” not tax deductible

Posted on April 15th, 2012 Dan

Straight from IRS Publication 334 (2011)

Expenses You Cannot Deduct

You usually cannot deduct the following as business expenses. For more information, see Publication 535.

  • Bribes and kickbacks.

REALLY????  Now we just have to find out under which circumstances bribes and kickbacks are tax deductible.  It’s rather ironic that people would attempt to deduct such things.  Poor choice of words, or morally bankrupt society?

 


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