Self-Study

Taxation of Judgement and Settlements

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In the course of legal actions, payments may be made pursuant to a final disposition of a court case or a mutually agreed-upon settlement. This course will cover the tax implications for payments made for personal injury, emotional distress, lost wages, punitive awards, pre- and post-judgement interest, contract claims, among other damages.

Major subjects

• Types of damages or remedies that can be awarded or agreed upon pursuant to litigation.
• Review of the Internal Revenue Code and regulations governing the taxation of various types of litigation payments.
• Suggestions for drafting pleadings or settlement agreements.

Learning objectives

• Obtain a working knowledge of the IRC, Treasury Regulations and case law governing the taxation of litigation payments.
• Be able to differentiate between the different types of damage payments and whether they are taxable to the recipient or deductible by the payor.
• Be able to draft pleadings and agreements to order to allocate the payments among the different categories of damages.
• Have an ability to advise clients on the most advantageous manner of categorizing settlement payments

Who should take this program?

• This course is suitable for corporate tax and finance executives, directors, managers and staff, CPAs, Cas, enrolled agents, accountants, attorneys and business/financial advisors who work with and advise businesses that have tax implications.

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $58.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.