FINRA fines cannot be deducted from tax filings, according to a recent ruling made by the IRS.
The agency's Office of Chief Counsel issued a memorandum last Friday citing a number of legal cases to back up the opinion, including Guardian Industries Corp. v. Commissioner.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access