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Posted by Han on February 27, 2007, 4:14 pm
Please log in for more thread options sethb@panix.com (Seth Breidbart) wrote:
>> I received a check from the Settlement administrator for the
>> class action suit against Verizon for blocking
>> indiscrimately email from certain regions and/or domains (a
>> backfiring attempt at blocking spam). Is this $21 taxable
>> income for 2007?
> If you paid Verizon more than $21 for the (bad) service they
> provided, that should be considered a refund and is taxable
> only to the extent the money you paid Verizon was deducted.
> (If it was a personal expense, there was no deduction and
> hence no tax on the refund. If it was a business expense
> and deducted, the refund reduced the deduction hence is
> taxable, and your accountant should know how to handle it.)
Thanks, Seth!
--
Best regards
Han
email address is invalid
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