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  #1  
Old 04-11-2001, 02:23 PM
Steve Zea
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i live in az. i received a 50k reward thru silent witness in 1999. is it subject to being taxed?
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Old 04-12-2001, 10:55 AM
Taxguy
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>>i received a 50k reward thru silent witness in 1999<<

What, exactly, is that ?
A "reward" from whom,...for what ?
  #3  
Old 04-12-2001, 01:38 PM
Steve Zea
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The reward was issued by a bank, for providing information leading to the conviction of the bank robbers. I did not receive a 1099 from the bank, however they did send one to the IRS. Now of course the IRS wants the money plus penalties and interest.
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Old 04-12-2001, 02:47 PM
Taxguy
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Its probably taxable as compensation for services rendered. There's at least 1 published Revenue Ruling which so holds,...Rev. Rul. 76-374 , 1976-2 CB 19.
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