Personal Injury Award

Exclusion of Tort Damages from Taxation

By madwire / March 24, 2017

As a tax lawyer, personal injury attorneys ask me whether the non-economic damages from a tort claim are excludable from taxable income, under 26 USC § 104. The most recent inquiry came regarding an award from a hospital near both Orland Park IL and Joliet IL. Internal Revenue Code Sec. 104(a)(2) allows an exclusion for…

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