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Tax

Jul. 27, 1999

Swiss Gold

By Richard J. Sideman and Steven M. Katz Without a specific exemption from the California Legislature and Congress, settlement beneficiaries in the Swiss Bank litigation, Holocaust survivors and their heirs and beneficiaries, would be subject to state and federal income tax on settlement payments. To prevent this seeming injustice, the California Legislature enacted new legislation, effective for tax years beginning on or after Jan.

        ^^The Adviser^^

        By Richard J. Sideman and Steven M. Katz
        
        Without a specific exemption from the California Legislature and Congress, settlement beneficiaries in the Swiss Bank litigation, Holocaust survivors and their heirs and beneficiaries, would be subject to sta...

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