Tax Aspects Of Litigation Damage Awards And Settlement
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Author | : Robert W. Wood |
Publisher | : Tax Institute of America |
Total Pages | : 518 |
Release | : 1991 |
Genre | : Law |
ISBN | : |
Download Taxation of Damage Awards and Settlement Payments Book in PDF, Epub and Kindle
Author | : |
Publisher | : |
Total Pages | : 7 |
Release | : 2020 |
Genre | : Personal injuries |
ISBN | : |
Download Tax Aspects of Litigation Damage Awards and Settlement Book in PDF, Epub and Kindle
Author | : Richard E. Sympson |
Publisher | : |
Total Pages | : 122 |
Release | : 2002 |
Genre | : Income tax |
ISBN | : |
Download Taxation of Contingent Legal Fees on Settlements Or Awards Book in PDF, Epub and Kindle
Author | : |
Publisher | : |
Total Pages | : |
Release | : 1992 |
Genre | : Damages |
ISBN | : |
Download Taxation of Damage Awards and Settlement Payments Book in PDF, Epub and Kindle
Author | : Lawrence A. Frolik |
Publisher | : BNA Books (Bureau of National Affairs) |
Total Pages | : 264 |
Release | : 1987 |
Genre | : Business & Economics |
ISBN | : |
Download Federal Tax Aspects of Injury, Damage, and Loss Book in PDF, Epub and Kindle
This treatise covers the taxability and deductibility of awards, settlements, and related expenses in personal, property, and business loss tort cases. The changes resulting from the 1986 Tax Reform Act on taxation of losses and recoveries for losses are discussed in detail.
Author | : Robert W. Wood |
Publisher | : |
Total Pages | : |
Release | : |
Genre | : Damages |
ISBN | : 9781633590410 |
Download Tax Aspects of Settlements and Judgments Book in PDF, Epub and Kindle
... examines the tax consequences to plaintiffs and defendants during and after litigation. It analyzes the tax issues that arise in many different types of lawsuits, from personal injury and wrongful death cases to employment disputes, from business litigation to intellectual property and environmental disputes. Settling a lawsuit or paying a judgment has tax consequences to both payor and payee. This portfolio examines the inclusion in income and character of payments received pursuant to settlements and judgments, as well as the deductibility and reporting of those payments. This portfolio also examines planning techniques which may improve the tax treatment for one or both parties. A wide array of substantive litigation is considered, including the tax aspects of personal physical injury cases, various types of employment-related claims, business recoveries and liabilities, structured settlements, and antitrust payments and recoveries. The tax treatment of legal fees is examined extensively.
Author | : David E. Heller |
Publisher | : |
Total Pages | : 82 |
Release | : 2004 |
Genre | : Damages |
ISBN | : |
Download Taxation of Litigation Payments in Tennessee Book in PDF, Epub and Kindle
Author | : Sandy Kasten |
Publisher | : |
Total Pages | : |
Release | : 1989 |
Genre | : Damages |
ISBN | : |
Download Tax Aspects of Litigation and Settlements Book in PDF, Epub and Kindle
Author | : |
Publisher | : |
Total Pages | : 474 |
Release | : 1979 |
Genre | : Alimony |
ISBN | : |
Download Tax Aspects of Litigation Book in PDF, Epub and Kindle
Author | : Sachin S. Pandya |
Publisher | : |
Total Pages | : 37 |
Release | : 2018 |
Genre | : |
ISBN | : |
Download Designing the Tax Treatment of Litigation-Related Costs Book in PDF, Epub and Kindle
Defendants often deduct for income tax purposes their litigation-related costs, such as attorney fees and payments to settle claims or satisfy judgments. The result is often a large gap between the sticker price of settlements or judgments and their after-tax cost--what defendants really pay out of pocket. The problem: For every dollar that a defendant avoids in tax liability by, for example, deducting the damage awards it pays, the civil justice system falls that much short of its corrective-justice or optimal-deterrence goals in that case. For this reason, the entire civil justice system should care about this question: How should income tax law treat litigation-related costs? This Article identifies the critical tax-design choices that must be faced but that prior commentary has largely ignored: How to attribute litigation-related costs to an income-producing activity; whether to treat liability insurer payments made on a defendant's behalf as income to that defendant; whether to coordinate the tax treatment of a payor's damages payments with the tax treatment of those receipts to the payee; and whether litigation-related costs should be treated as capital expenditures. Then, the Article offers a new default rule for settlement agreements: Unless a settlement agreement expressly indicates otherwise, a settling defendant promises not to seek an allowable tax deduction for litigation-related costs. In so doing, this Article reveals the issues that lawyers, judges, and scholars must no longer ignore when they argue over how an income tax system could or should treat litigation-related costs.