Tax Deductions Punitive Damages

News & Analysis as of

US District Court Rejects Talley and Permits a Business Expense Deduction for Part of Double Damages Payment Under the False...

In a taxpayer-favorable decision earlier this month, the US District Court for the District of Massachusetts, following a jury verdict, entered judgment for a corporation in a tax refund suit permitting a business deduction...more

Trial Attorney Tax Summary for Taxation of Settlements and Damages – Part 2: Punitive Damages

Overview - Part 2 of this series focuses on the payment of punitive damages. One component of the equation focuses on the receipt of punitive damages by a plaintiff. The second part of the equation focuses on the...more

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