Payment from defamation settlement must be taxed as ordinary income

Payments from a defamation settlement must be taxed as ordinary income pursuant to a 1996 amendment to the Internal Revenue Code, even though the settlement predated the amendment, the 9th Circuit has ruled. A talent agent sued his former employer for wrongful termination and defamation. The parties agreed to a $4 million settlement in May ...

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Payment from defamation settlement must be taxed as ordinary income

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