You have probably heard about the many tax deductions that you are losing (or have lost) as a result of the new tax law (known as the Tax Cuts and Jobs Act, or TCJA). But, if you are an employer, one that you may not have heard about – or may not have had reason to hear about – is loss of the Federal income tax deduction for amounts paid in settlement of claims relating to sexual harassment and/or sexual abuse, as well as attorneys’ fees paid with respect to any such settlement or payment, if the settlement or payment is subject to a nondisclosure agreement.
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