» Tax Exemptions

emotional distress

Do Plaintiffs Have to Pay Income Tax on Emotional Distress Awards?

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… Read More
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Categories: Tax Exemptions, Tax News
Judges Gavel on Cash

Do You Have to Pay Taxes on Out-of-Court Settlements?

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… Read More
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disabled man in a wheelchair stopped in front of a staircase

Is a Disability Discrimination Award Taxable as Income?

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.… Read More
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Expat man on balcony thinking about Tax Cuts and Jobs Act

U.S. Tax Cuts and Jobs Act Brings Changes: What That Means for Expats

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… Read More
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