Petition Text
The IRS needs to disallow banking institutions that are fined for wrongdoing (such as the most recent Wells Fargo scandal) to claim these fines as "business expenses on their tax returns. It only serves to mitigate crimes they commit, not provide another way to pay less!
Why is this important?
It's almost a joke that the current corporate tax code basically rewards banks that are fined for wrongdoing, even felonies, by allowing these institutions to claim them as "business expenses", and that allowance needs to be eliminated, NOT incentivized!
