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Tax Exclusion for Restitution Payments
  

Tax Exclusion for Restitution Payments

The IRS decided in August 2001 that restitution payments to Holocaust victims and their heirs can be excluded from income when filing federal tax returns. For more information see:  http://www.irs.gov/pub/irs-news/ir-01-75.pdf.

 

Many states also exclude such income from taxes.

  
  
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