S. 584, known as the “Tax Fairness for Survivors Act,” is a proposed amendment to the Internal Revenue Code of 1986. The bill aims to make it so that any money received from judgments, awards, or settlements related to sexual assault or sexual harassment claims would not be...
Simple Explanation
The Tax Fairness for Survivors Act is a new rule that says people who get money because someone hurt them in a bad way, like through a sexual attack or harassment, won't have to pay taxes on that money. It makes sure that when they win a court case or settle it, they get to keep all the money, including any extra given to punish the bad person or cover lawyer costs, without losing any to taxes.