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Fox Plans to Use Dominion Settlement as a Massive Tax Write-Off: Report

Federal law allows companies to write off all manner of legal expenses—including defamation case settlements.

The massive Fox News defamation settlement with Dominion Voting Systems may actually be a blessing in disguise for the right-wing network—which says it’s planning to use the payment to get a huge tax break that could save the company as much as $213 million, according to an investigation by Lever News. Federal law allows companies to write off all manner of legal expenses, with the IRS and American courts finding repeatedly that the payouts are simply part of the cost of doing business. A spokesperson for the network confirmed to Lever News that Fox Corp. was planning to deduct the settlement expense—but declined to comment on the amount that a potential write-off represented.