FBI Says Don’t Pay Ransom, While Payments May Be Tax-Deductible

Ransomware attack on UnitedHealth

As ransomware attacks surge, the FBI is doubling down on its guidance to affected businesses: Don’t pay the cybercriminals. But the U.S. government also offers a little-noticed incentive for those who do pay: The ransoms may be tax deductible. The IRS offers no formal guidance on ransomware payments, but multiple tax experts interviewed by The… Continue reading FBI Says Don’t Pay Ransom, While Payments May Be Tax-Deductible