» Tax Exemptions
Do Plaintiffs Have to Pay Income Tax on Emotional Distress Awards?
October 11th, 2021
If you represent plaintiffs in civil lawsuits, you often must negotiate the tax withholdings on their settlement awards. It is important to recognize how different legal claims are taxed and to draft your settlement agreements appropriately. Otherwis…
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Do You Have to Pay Taxes on Out-of-Court Settlements?
March 8th, 2021
Thousands of lawsuits settle out of court every year. These settlement agreements cover everything from slip and fall injuries to employment disputes. Figuring out whether you have to pay taxes on lawsuit settlements isn’t easy, or automatic. Here…
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Categories: Tax Exemptions
Tags: For Referring Attorneys
Is a Disability Discrimination Award Taxable as Income?
August 24th, 2020
By the time a wrongfully terminated employee receives their disability discrimination award after filing an employment discrimination lawsuit, much of that money is already earmarked for lawyers, medical providers, and other bills that have come due.…
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U.S. Tax Cuts and Jobs Act Brings Changes: What That Means for Expats
March 25th, 2018
President Donald Trump made tax reform a part of his campaign. He promised to simplify the U.S. tax code and reduce tax burdens, particularly on corporations and small businesses. On December 22, 2017, after months of intense debate in Congress, Trum…
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