Severance payments as personal injury awards.: An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on April 1, 1995. The length of the article is 1054 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Federal courts are split on whether awards and settlements arising out of termination of employment qualify for tax exclusion under IRC section 104(a)(2). Section 104(a)(2) exclusion from income tax is generally available when the settlement or award relates to a tort or tort-like injury. Some courts have extended the injury requirement to include emotional distress, wrongful termination and discrimination suits. While some courts have denied exclusion of severance pay, signing a general release on termination may indicate that such payments should be excluded.

Citation Details
Title: Severance payments as personal injury awards.
Author: Rich Wagman
Publication:The Tax Adviser (Magazine/Journal)
Date: April 1, 1995
Publisher: American Institute of CPA's
Volume: 26 Issue: n4 Page: 221(3)

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