Tax
Dec. 25, 2015
Finally, wrongful convictions damages are tax free
A new law allows a wrongfully incarcerated individual a to exclude from his taxes the civil damages, restitution, or other monetary awards he receives as compensation for a wrongful incarceration. By Robert W. Wood
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.
Many of us are discovering surprises in the massive so-called tax extenders package. For years, Congress could never seem to agree on tax laws. There have been some amazing examples of bad governing, including the flip flop over estate taxes a few years ago that ended up with no estate tax at all in 2010. That was the year Walter Shorenstein, George Steinbrenner and a number of other billionaires died!
In the fights over wh...
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