Daily Tax Update - October 6, 2014: Treasury and IRS Release Notice Updating Guidance on Tribal Settlements

Treasury and IRS Release Notice Updating Guidance on Tribal Settlements:  Notice 2014-61 provides updated guidance on the federal tax treatment of per capita payments that members of Indian tribes receive from proceeds of certain settlements of tribal trust cases.  The Notice provides an updated appendix that includes additional settlement agreements that have been entered into since the publication of Notice 2013-1, the last guidance released on the topic.