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Five years after the tax code was amended to require taxes on nonphysical damages in personal injury awards and settlements, the Internal Revenue Service is taking the first steps toward knuckling down on those who fail to report such awards. The IRS has issued an Audit Training Guide for its auditors to clarify the changes and courts' interpretations of plaintiffs' tax obligations.
March 21, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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