How fraud someone perpetrated

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Reference no: EM13125991

Financial statement fraud has been a major problem, with company failures or forced mergers often following. Obviously, in such a case the owners (stockholders) bear the brunt of the loss. Naturally, losses suffered by stockholders are deductible for income tax purposes. Since these deductions result in reductions in income tax liabilities, and they result from the fraud someone perpetrated, does this amount to a subsidy of the financial statement fraud from the federal government, and some state governments?

Reference no: EM13125991

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