In article <NoSpam-3E8EC0.11535308022009[at]sfo.news.speakeasy.net> ,
Charles <NoSpam[at]NoSpam.tld> wrote:
- quote -


No need to amend. Just add to current income to the extent the recovery
provided a tax benefit in the past.
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ArtKamlet at a o l dot c o m Columbus OH K2PZH

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My C corp received a small amount of money (under $100.00) from the
LiPuma class action settlement with American Express. The issue was that
American Express had used incorrectly high foreign-exchange rates for
purchases made outside the U.S.

My question is how to account for this refund, which covers charges over
a several-year period? Some of those were undoubtedly employee travel
meals, which are only deductible at 50%.

I don't know how much was awarded for each year. Even if I could figure
it out, surely I would not be expected to amend returns for such a
trivial amount?

Thank you,

Charles

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >