New Bill Would Restore Tax Fairness for Harmed Consumers
Sen. Catherine Cortez Masto (D-Nev.) today introduced the End Double Taxation of Successful Consumer Claims Act, which would amend the tax code so that individuals who win consumer cases are no longer expected to pay income tax on funds, specifically reimbursed legal expenses, that they do not receive. The proposal is similar to a previous 2004 amendment to the tax code that protects victims of discrimination.