Washington Post: Congress urges DOJ, Treasury to examine drug companies aiming to turn opioid settlements into tax breaks

There is uncertainty in the law about these types of tax breaks, said Matthew Gardner, a senior fellow at the nonprofit Institute on Taxation and Economic Policy. Though recent changes to the tax code have attempted to close loopholes that permit companies to deduct legal settlements or governmental fines from taxes when they have committed wrongdoing, many firms push to make sure their settlements include a “restitution” payment for victims — a measure that often qualifies them for deductions, Gardner said. Read more