The growth of punitive damages awards has made the tax consequences of such awards increasingly important. This Note considers the legal and philosophical aspects of both the deduction of the award by the payor and the exclusion of the award from gross income by the recipient.
Brock D. Phillips,
The Tax Consequences of a Punitive Damages Award,
31 Hastings L.J. 909
Available at: https://repository.uchastings.edu/hastings_law_journal/vol31/iss4/5