The 2,100-page Infrastructure Bill is full of payoffs for special interests. One of the most egregious examples is the change in the tax law granting trial attorneys to deduct legal fees as they incur them – even though these fees may be reimbursed by their clients at a later date.
The up front fees have never been deductible. These fees have been treated like non-deductible loans to clients since they may eventually get reimbursed at the end of the case when the client settles or wins.
Attorney Steven A. Leahy reveals the new generous for Trial Attorneys hidden in the new law.
Steven A. Leahy is a tax attorney in Illinois. He is the host of the long-running popular Radio Show “The IRS Radio Hour” heard every Sunday evening on AM 560 The Answer. Attorney Leahy is also the author of the book “Deal With Your IRS Problems Today!” You can get a FREE copy of this important book at FreeIRSBook.com. Or Call 24/7 (312)664-6649