Internal Revenue Service
Revenue Ruling

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 Rev. Rul. 67-98

1967-1 C.B. 29

Sec. 162

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Rev. Rul. 67-98

A taxpayer engaged in a trade or business paid a reward to a person who found and returned the taxpayer's stolen business checks.

Held , the amount of the reward is deductible by the taxpayer as an ordinary and necessary business expense under section 162 of the Internal Revenue Code of 1954.