Holocaust Restitution Payments

AAA

DEFINITION of 'Holocaust Restitution Payments'

Money paid by the governments of Germany and Austria to partly compensate victims persecuted by Nazi Germany or its allies. In addition to persecution, restitution payments are also made to compensate for lost housing, destroyed businesses and liquidated bank accounts.

INVESTOPEDIA EXPLAINS 'Holocaust Restitution Payments'

Holocaust restitution payments are not taxable as income at the federal level if the payment is received by someone who was persecuted by the Nazis on the basis of race, religion, physical or mental disability, or sexual orientation, or if payment is received by the heirs or estate of such a person. In contrast, Holocaust restitution payments that are received as compensation for stolen assets are considered taxable income.



RELATED TERMS
  1. Tort Law

    The area of law that covers the majority of all civil lawsuits. ...
  2. Compensatory Damages

    Money awarded to a plaintiff to compensate for damages, injury, ...
  3. Restitution Payments

    The payment of punitive damages that are owed as a result of ...
  4. Judgment

    A court order to the loser of a lawsuit to pay the winner a specified ...
  5. Punitive Damages

    Legal recompense that is levied as punishment for a wrong or ...
  6. Economic Justice

    Economic justice is a component of social justice. It's a set ...
Related Articles
  1. Fighting Back Against Collection Lawsuits
    Credit & Loans

    Fighting Back Against Collection Lawsuits

  2. Build A Wall Around Your Assets
    Retirement

    Build A Wall Around Your Assets

  3. Are You Trying To Get Sued?!
    Insurance

    Are You Trying To Get Sued?!

  4. It's Raining Lawsuits: Do You Need An ...
    Home & Auto

    It's Raining Lawsuits: Do You Need An ...

comments powered by Disqus
Hot Definitions
  1. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  2. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  3. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  4. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  5. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  6. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
Trading Center