Summary: H.R.6700 — 112th Congress (2011-2012)All Information (Except Text)

There is one summary for H.R.6700. Bill summaries are authored by CRS.

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Introduced in House (12/20/2012)

Stop Deducting Damages Act of 2012 - Amends the Internal Revenue Code to: (1) deny a tax deduction for any amount paid or incurred for punitive damages in connection with any judgment in, or settlement of, any legal action; and (2) include any amount paid as punitive damages in gross income for income tax purposes.