Doyle v. Commissioner – Taxpayer can’t reduce taxable settlement for pain and suffering
$225.00
Description
Abstract: Internal Revenue Code Section 104 lays out the proper tax treatment for damages for injuries or illness received as the result of a lawsuit. This article discusses a recent U.S. Tax Court case in which a taxpayer tried to get around the rules by taking what the court described as “some weird deductions” to offset payments for emotional distress. Doyle v. Commissioner, T.C. Memo. 2019-8, February 6, 2019
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