TaxProf Blog: Lesson From The Tax Court: “What’s Excluded From The §132 Exclusion?” (April 18, 2022)

Bryan Camp has published his article, “Lesson From The Tax Court: What’s Excluded From The §132 Exclusion?“, which discusses exactly what is excluded from the The §132 Exclusion. The article begins as follows:

Tax Day is here! And what better way to observe the day than a lesson on §132, a lesson that evokes the ghost of Dan Rostenkowski, whose curmudgeonly visage appears to the right.  For those who don’t know, Rostenkowski was the chairman of the House Ways and Means Committee from 1981 until 1994 when, in the great tradition of Illinois politicians, he was indicted on various counts of fraud, eventually pleading guilty to mail fraud.  Yes, political corruption in Illinois actually has its own Wikipedia entry.
During his time as head of the House tax writing committee, Rostenkowski oversaw multiple major legislative changes. Perhaps his crowning glory was his role in the 1986 Tax Reform Act, which has long been viewed as a triumph (however short-lived) of sound tax reform.

To see the full article, click: “Lesson From The Tax Court: What’s Excluded From The §132 Exclusion?

Posted by Mallory Wentz, Associate Editor, Wealth Strategies Journal.

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