Tag Archives: wrongful incarceration

Tax Exclusions under Wrongful Incarceration Exclusion, Part 2

When a person is wrongfully incarcerated, it is common for them to receive financial compensation in the form of civil damages, restitution, or other monetary awards. As a result of the Protecting Americans from Tax Hikes Act of 2015, the money a person in compensation for being wrongfully incarcerated is not included in their income for tax purposes.

The following article is part 2 in a series of frequently asked questions about the Wrongful Incarceration Exclusion. Answers to other frequently asked questions can be found at Tax Exclusions under Wrongful Incarceration Exclusion, Part 1.

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Tax Exclusions under Wrongful Incarceration Exclusion, Part 1

When a person is wrongfully incarcerated, it is common for them to receive financial compensation in the form of civil damages, restitution, or other monetary awards. As a result of the Protecting Americans from Tax Hikes Act of 2015, the money a person in compensation for being wrongfully incarcerated is not included in their income for tax purposes.

The following article answers frequently asked questions about the Wrongful Incarceration Exclusion.

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