July 20, 2011

Yet more from Prof. Markel on taxing and deducting punitive damages awards

We've chronicled some of the academic debate concerning the ins and outs of tax treatment of punitive damages awards. One of the debaters, Professor Dan Markel, posted an update this week ("What will Congress do regarding the tax treatment of punitive damages?"), outlining more recent papers on the subject, authored by himself and others, including Professors Larry Zelenak and Paul Mogin. He remarks, "in an Escheresque-turn, we now invite comments on our comments on their comments on our paper." Some readers of this blog just might want to take him up on the offer!

For our last analysis of thoughts from Professor Markel, see "More from Professor Markel on Tax Policy and Punitive Damages."