Over at The Settlement Channel, our associate Mark Wahlstrom was joined last week by Attorney Robert Wood for the first edition of his featured commentary for the Legal Broadcast Network. This commentary is sponsored by ATG Trust Company of Chicago, IL, and will be a regular monthly feature on LBN channels each month. You can learn more about Robert Wood by clicking here to his web site and get a wide range of resources, articles and commentary authored by this nationally respected expert on the tax issues related to taxable and non-taxable damages.

Todays podcast is about the recent Murphy vs IRS opinion, which came out July 3, 2007 and reversed the prior decision which appeared to open up a wide range of taxable cases to potentially falling under the tax free umbrella of section 104(a)(2). You can find the entire Murphy opinion by clicking here.

This podcast, while lengthy at 25 minutes, covers a wide range of topics as to taxable damage cases, what the impact is for trial lawyers and plaintiffs, and some of the issues for litigants in sexual abuse cases among others will now be facing given the wording and reasoning behind the Murphy vs IRS opinion.

With the recent Los Angeles Archdiocese settlement in the news, this discussion of the most recent tax opinion on what is a taxable, and what is a tax free, damage claim couldn’t be more timely and it’s something every trial lawyer needs to be aware of in their practice.  

The Settlement Channel is doing a three part blog series specifically on the impact of Murphy v IRS so I want to make sure you know where to find this featured podcast to get more back ground information on this vitally important decision for trial lawyers and settlement professionals.

Listen to the podcast by clicking here.