Two months after the stunning Murphy vs. IRS ruling nationally renown tax attorney Robert Wood of Wood Porter in San Francisco, CA joined host Mark Wahlstrom on The Settlement Roundtable to discuss the aftermath of the decision.
As our readers and listeners know, the Murphy v IRS ruling involved a decision by the US appeals court in DC, and authored by Chief Judge Douglas Ginsberg in which the taxable damages of a wrongful termination/whistle blower award was declared "non-taxable" on constitutional grounds, attacking the reasoning of section 104 and the distinction between physical personal injury and non-physical personal injury.
Mark and Rob go over the implications to tax professionals, settlement professionals, trial lawyers and particularly those working in employment law or whistleblower cases. Rob brings you up to speed on what the IRS has done in the fall out of the decision, what the current thinking is on whether or not this case applies outside the DC district as well as the current stance of life markets in how they are handling annuities on taxable damage cases. This is a "must listen" podcast if you are a settlement professional.