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occamrazor
1830 days ago
Are extortion payment and “protection fees” to mob groups already tax deductible? Ransomware payments aren’t qualitatively different.
2 comments
casefields
1830 days ago
Maybe:
https://taxfoundation.org/irs-guidance-thieves-drug-dealers-...
link
toomanybeersies
1829 days ago
Yep, losses due to theft are deductible [1], including blackmail, extortion and "kidnapping for ransom".
[1]
https://www.irs.gov/publications/p547#en_US_2020_publink1000...
link