Tax
May 26, 2001
Uncertain Recovery
Can litigation damages awarded to a plaintiff (punitive or compensatory) be assigned to a third party without creating income to the assignor? This question - to a tax lawyer anyhow - would seem to answer itself, and the answer would appear to be a resounding "no."
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Can litigation damages awarded to a plaintiff (punitive or compensatory) be assigned to a third party without creating income to the assignor? This question - to a tax lawyer anyhow - would seem to answer itself, and the answer would appear to be a resounding "no."
The assignment-of-income doctrine has l...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In