March 16, 2017
The line between legitimate business expenses and commercial bribery can be a fine one, and while businessmen who are prosecuted for having crossed that line are rightfully most concerned with the loss of liberty and stigma associated with a criminal conviction, lawyers and accountants representing them need to be mindful of the tax consequences of their clients’ conduct. This article provides a roadmap for lawyers and accountants to consider when evaluating the tax consequences of payments made to obtain business.