Paul L. Caron

Friday, February 25, 2011

Wood: Taxing Prisoners Freed From Wrongful Convictions

Tax Analysts Robert W. Wood (Wood & Porter, San Francisco) has published Tax-Free Wrongful Imprisonment Recoveries,130 Tax Notes 961 (Feb. 21, 2011):

Although wrongful incarceration and similar recoveries are becoming common and can proceed under several different legal theories, their tax treatment has received relatively little attention. In ILM 201045023, the IRS treated a recovery as excludable from income based on personal physical injuries, prompting many in the popular press to suggest that the tax issues surrounding those recoveries are resolved

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