Skip to main content
S 4318 117th Congress Senate Taxation Civil actions and liability Competition and antitrust Income tax deductions Income tax exclusion Life, casualty, property insurance

No Tax Write-offs for Corporate Wrongdoers Act

Introduced: May 26, 2022 See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 26, 2022
Read twice and referred to the Committee on Finance.
May 26, 2022
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

No Tax Write-offs for Corporate Wrongdoers Act

This bill denies a tax deduction for any amount paid or incurred for punitive damages in connection with any judgment in, or settlement of, any legal action. The bill also requires the gross income of a taxpayer to include any amount paid to or on behalf of the taxpayer as insurance or otherwise by reason of the taxpayer's liability (or agreement) to pay punitive damages.

What's happening now May 26, 2022

Read twice and referred to the Committee on Finance.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Gillibrand, Kirsten E.
New York · Jun 23, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4318: No Tax Write-offs for Corporate Wrongdoers Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-4318/
MLA
"S. 4318: No Tax Write-offs for Corporate Wrongdoers Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-4318/.
Bluebook (legal)
S. 4318, 117th Cong. (2026), https://openamerica.io/bill/117-S-4318/.
Markdown link
[S. 4318: No Tax Write-offs for Corporate Wrongdoers Act](https://openamerica.io/bill/117-S-4318/)
Report a problem