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News
November 27, 2017

In the News Today – November 27, 2017

Tax legislation before the U.S. House of Representatives and the U.S. Senate would close the loophole that allows plaintiffs’ lawyers to deduct class action litigation expenses from state taxes, reports Bloomberg BNA.

U.S. Chamber Institute for Legal Reform President Lisa A. Rickard called the loophole “a handout from taxpayers that is contrary to long-established IRS tax policy in 41 other states.” The loophole allows lawyers to deduct the expenses in nine Western states, including California.

The Senate is also considering the Fairness in Class Action Litigation Act, which passed the House in March.

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