On Wed, 26 Jan 2005 16:22:56 GMT, the renowned Gunner
wrote:

On Wed, 26 Jan 2005 08:41:58 -0500, "Glenn Ashmore"
wrote:

Gunner, that law was passed in1996 when your hero the Newt and your beloved
Republicans were running things in Congress. It is in the "Small Business
Protection Act", part of their "Contract on America".

It can actually teg much worse than your example. In the O'Gilive case that
the SCOUS decided, the family that won a $10 Mil award when their mother
died from toxic shock. After legal fees and taxes they owed the IRS
$500,000 more than they received.

See:

http://www.latimes.com/business/investing/la-na-tax25jan25,1,7736904.story?coll=la-headlines-business-invest&ctrack=1&cset=true

Gunner

I suppose to be fair then, the lawyers should not need to pay any tax
on the income, right?



Best regards,
Spehro Pefhany
--
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