Gerald Savidge v. USA
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November 18, 2019
3rd Circ. Denies Trust A Tax Refund On Damage Award Income
A trust is not entitled to a refund for taxes paid on a $747,000 award for property damage, the Third Circuit said recently.
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July 16, 2019
Trust Can't Avoid Tax On Court Award Interest, 3rd Circ. Told
A trust can't obtain a refund of taxes paid on interest stemming from a property damage award paid to a South Carolina woman because the interest was correctly included in the trust's income, the U.S. told the Third Circuit on Tuesday.
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May 21, 2019
Trust Entitled To Income Tax Refund, 3rd Circ. Told
An estate's amended tax return should have opened the door for a beneficiary trust to claim an income tax refund, the trustee told the Third Circuit.