The latest Herman Cain news prompted these questions in my federal income tax class today:
- Were the payments received by the two women who charged Mr. Cain with sexual harassment in the 1990s treated as taxable income (or were they excludible from income under § 104)?
- Would the payments be treated as taxable income under Mr. Cain’s 9-9-9 plan?
Comments (as always) are open!
