Illegal bribes and kickbacks are not deductible as business expenses but fines imposed by a governmental unit are deductible as long as the fines are incurred in the ordinary course of business.

Name: Illegal bribes and kickbacks are not deductible as business expenses but fines imposed by a governmental unit are deductible as long as the fines are incurred in the ordinary course of business.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

No deductions are allowed for expenditures against public policy.

Illegal Bribes and Kickbacks Are Not Deductible as Business Expenses