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INCOME TAX

Internal Revenue Bulletin 1997-31 · 2026-10-03 edition · updated 2026-10-04 · United States

Rev. Rul. 97–30, page 12. Federal rates; adjusted federal rates; adjusted feder- al long-term rate, and the long-term exempt rate. For purposes of sections 1274, 1288, 382, and other sections of the Code, tables set forth the rates for August 1997.

Ct.D. 2061, page 5. Punitive damages for personal injuries. Petitioners’ punitive damages were not received “on account of” personal injuries; therefore, the gross-income-exclusion provision does not apply and the damages are taxable. O’Gilvie et al., Minors v. United States.

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▸Contents — Internal Revenue Bulletin 1997-31
Internal Revenue Bulletin 1997-31

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