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Friday, July 7, 2006

Senators Concerned About Deductibility of Boeing's Settlement

Interesting article in today's New York Times:  3 Senators Protest Possible Tax Deduction for Boeing in Settling U.S. Case, by Leslie Wayne:

Three prominent Republican senators have written to Attorney General Alberto R. Gonzales to express concern that Boeing may be allowed to take a tax deduction for a $615 million settlement reached last week with the government. The three senators — Charles E. Grassley of Iowa, chairman of the Senate Finance Committee; John McCain of Arizona, a longtime critic of Boeing; and John W. Warner, chairman of the Armed Services Committee — said in the letter that allowing Boeing to deduct payments to settle government ethics charges "would be unacceptable."

For more, see:

http://taxprof.typepad.com/taxprof_blog/2006/07/senators_concer.html

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