March 5, 2020

CNBC quoted Tax Principal Michael D’Addio on whether the president will have to pay taxes on the salary he is contributing to the U.S. Dept. of Health & Human Services to help manage the coronavirus.

CNBC

By Darla Mercado

Related Services Tax & Business, Tax Credits & Incentives, Tax Advisory Services, Coronavirus Resource Center

CNBC quoted Tax Principal Michael D’Addio on whether the president will have to pay taxes on the salary he is contributing to the U.S. Dept. of Health & Human Services to help manage the coronavirus. Tax & Business

Excerpt:

“You can’t just assign the income to someone else and tell the IRS to go tax them,” said Michael D’Addio, principal at Marcum LLP in New Haven, Connecticut. “It’s more like you receive the income first and then transfer it to a third party.”

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Michael  D'Addio

Michael D'Addio

Principal

  • Tax & Business
  • New Haven, CT