Tax-Free Wrongful Death Punitive Damages?
4 Pages Posted: 21 Mar 2011
Date Written: December 13, 2010
Punitive damages have long been viewed as taxable by the IRS, and that view was enshrined in 1996 with a U.S. Supreme Court case and a statutory change to section 104. Yet there remains a narrow exception from this treatment that exempts limited damages for wrongful death. Wood explores this aspect of the law of punitive damages.
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