WASHINGTON (Oct. 7)
The U.S. Internal Revenue Service ruled this week-end that Jews and other victims of Nazi persecution now in the United States do not have to pay Federal income tax on compensation received from the German Government for economic losses.
The ruling was requested by a victim receiving compensation. The victim’s identity was not divulged. The ruling covers funds paid by the West German Government for damage to life, body, health, liberty, or to professional or economic advancement. It also covers, as determined by Bonn authorities, the value of property lost because of or seized by, the Nazis.