Finn Financial Group
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About Finn Financial Group
The Finn Financial Group is a full-service, specialty planning firm with a commitment to ensuring the long-term financial stability of its clients.  We believe this can best be achieved through a stream of guaranteed , tax-advantaged payments carefully tailored to each individual's specific needs.  Our diligent work has resulted in a long list of satisfied clients and a high degree of trust.
Contact Us
Finn Financial Group, LLC
260 Newport Center Drive, Suite 100
Newport Beach, CA 92660

Direct: 949.999.3322
Toll Free:  800.531.7466
Cell:  949.274.5485
Fax: 949.999.3375
E-Mail: Dan@FinnFinancialGroup.com
Website: FinnFinancialGroup.com

CA Insurance License: 0A96173
  
IRS Confirms:
  
Wrongfully Imprisoned Exonerees
Can Receive Tax-Free Structured Settlements


Affirming what's generally been accepted as true for many wrongfully convicted individuals upon earning their freedom, the Internal Revenue Service published a Written Determination this past Friday (Number: 201045023) that removes any ambiguity surrounding the tax-treatment of compensation exonerees receive on account of personal, physical injuries suffered while incarcerated.

 

Click [HERE] to view IRS Memorandum 201045023

  

In its analysis, the Service noted:  

  • "Compensatory damages for physical injuries and physical sickness (including damages received for economic losses flowing from the physical injury or physical sickness) that an individual receives from a state for wrongful conviction and incarceration are excluded from gross income under 104(a)(2)." 

Punitive damages and interest, however, are NOT excluded from gross income and are thus taxable.  This position is consistent with the most recent history of this particular section of the tax code. 

 

According to the Innocence Project, there have been 261 post-conviction DNA exonerations in the United States.  And that number is expected to grow.

 

I have personally had the honor of helping secure, via structured settlements, the financial futures of several men who spent more than a decade in prison for crimes they did not commit.  This welcome memorandum from the IRS helps advance the cause of justice by ensuring the system will not mistreat these victims a second time.

 

For additional information on the topic of wrongful convictions, please visit the websites of these innocence-based organizations we proudly support:

 

The Innocence Institute of Point Park University 

 

Pittsburgh, PA

Bill Moushey, Director

 

Innocence Matters

  

Torrance, CA

Deirdre O'Connor, Executive Director
 

The Finn Financial Group remains committed to helping those who have been wrongfully imprisoned.  We welcome the opportunity to partner with attorneys who are working to achieve justice for those affected.  Please call anytime we can help you help them.

 

Thank you for the opportunity to be of service!

 

Dan Finn, CPCU, CSSC 

Certified Structured Settlement Consultant

Dan@FinnFinancialGroup.com

Our Services

Finn Financial ServicesThe Finn Financial Group provides customized, guaranteed future income options and ancillary services to a variety of clients throughout the United States.  We pride ourselves on our commitment to the overall financial well-being of the individual. For a greater understanding of the services we provide, click on your area of interest.

For Injury Victims
We provide structured settlements for victims of personal, physical and non-physical injuries.

For Attorneys
We help attorneys meet their due diligence obligations, create and analyze proposals, conduct educational seminars, attend mediations, and structure fees - without any charge or out-of-pocket expense to the attorney or client.

For Insurance Companies
We assist insurance companies and self-insured clients by providing structured settlement illustrations and present value analyses, helping to present offers, and consulting with claims management.

For Business and Property Owners
We work with business owners, property owners, and those with certain other qualifying appreciated assets to defer capital gains in the selling process.

For Additional Services
We also offer life insurance, non-structured settlement annuities, retirement annuities, and much more.