Harvey Weinstein, Kevin Spacey, Bill O’Reilly, and many other figures in the business and entertainment world have been accused of serious acts of sexual harassment. So the recently passed tax bill includes a Harvey Weinstein tax that denies deductions in confidential sexual harassment or abuse settlements. New Section 162(q) of the tax code provides:(q) PAYMENTS RELATED TO SEXUAL HARASSMENT AND SEXUAL ABUSE. It is also worrisome to ask if any mention of sexual harassment claims trigger the Weinstein provision? If it does, will it bar any tax deduction, even if the sexual harassment part of the case is minor?
Source: Forbes January 03, 2018 13:41 UTC