Now that I am back, I will shortly be addressing the decision in Murphy v. U.S. which has tax folk all excited. Here Judge Douglas Ginsburg of the D.C. Circuit wrote an opinion holding that the IRS cannot constitutionally treat cash damages for injury as "income." Two quick thoughts, admittedly before reading it, are: (a) I am inclined to wonder if the good Judge has graduated from marijuana, his vice in the good old days, to crack cocaine; and (b) under the radical right judges we have these days, all kinds of doctrine that has been good since the 1930s is up for grabs. In income tax law, this definitely includes the Gregory and Knetsch cases, establishing the business purpose & economic substance doctrines that keep IRS revenue collections above a flat zero.
Fun for the likes of me, I suppose. to have more things to write & rail about.