IRS Investigating American Express Sales Pitches
CFO News Room
APRIL 15, 2022
The Internal Revenue Service is investigating American Express Co. over a questionable tax break that it pitched to clients, according to people familiar with the matter. The civil investigation has been under way for a few months, these people said. The Wall Street Journal reported in November that AmEx salespeople touted a tax break based on a shaky interpretation of tax law. The pitch was part of a strategy to persuade business owners to sign up for costly payment services. Source link.