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Author: Internal Revenue Service Publisher: ISBN: 9781304114822 Category : Languages : en Pages : 36
Book Description
Structured settlements have enjoyed widespread acceptance and have become an established part of our legal landscape over the past twenty-five years. More than $6 billion is now paid each year to fund new structured settlements in the United States, and an estimated $100 billion or more has been paid in the aggregate to fund structured settlements that are in force today. Little controversy attended the development of structured settlements. Much controversy has accompanied the development of a secondary market, in which structured settlement "factoring" companies acquire from settlement recipients their rights to receive future payments. Since 1997, the controversy surrounding structured settlement factoring has led thirtyeight states to enact statutes that make transfers of payment rights under structured settlements ineffective unless those transfers receive advance court approval. Since 2002, the Internal Revenue Code (IRC) has reinforced the state statutes by imposing a 40 percent federal excise tax
Author: Internal Revenue Service Publisher: ISBN: 9781304114822 Category : Languages : en Pages : 36
Book Description
Structured settlements have enjoyed widespread acceptance and have become an established part of our legal landscape over the past twenty-five years. More than $6 billion is now paid each year to fund new structured settlements in the United States, and an estimated $100 billion or more has been paid in the aggregate to fund structured settlements that are in force today. Little controversy attended the development of structured settlements. Much controversy has accompanied the development of a secondary market, in which structured settlement "factoring" companies acquire from settlement recipients their rights to receive future payments. Since 1997, the controversy surrounding structured settlement factoring has led thirtyeight states to enact statutes that make transfers of payment rights under structured settlements ineffective unless those transfers receive advance court approval. Since 2002, the Internal Revenue Code (IRC) has reinforced the state statutes by imposing a 40 percent federal excise tax
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight Publisher: ISBN: Category : Business & Economics Languages : en Pages : 90
Author: Alexander Ash Publisher: ISBN: Category : Languages : en Pages : 32
Book Description
Calls for reform in the structured settlement factoring industry have recently grown louder across the nation. However, those calls ring hollow and many recipients of structured settlements are suffering abuses at the hands of the structured settlement factoring industry. Structured settlements substitute a lump-sum award with periodic payments, protecting against spendthrift behavior. The purpose of a structured settlement is to provide an income stream for the long term care of an injured party, and by “factoring,” often at a heavily discounted rate, the rights to future payments form the settlement leads to this purpose being completely undermined. A comprehensive approach enhancing existing protections, and layering in new federal regulation will advance the purpose of the structured settlement. Three solutions to protect the purposes of structured settlements and minimize unwanted outcomes in structured settlement factoring transactions. These include (1) increasing existing standards of review, (2) creating three protected “classes” of structured settlement recipients, and (3) regulating structured settlement factoring on an industry-wide scale with the Consumer Financial Protection Bureau. These proposals do not call for sweeping changes, but instead using existing mechanisms to protect the goals of structured settlements, as well as the recipients of structured settlements.
Author: Office of the Federal Register (Cfr) Publisher: Regulations Press ISBN: 9781298709981 Category : Law Languages : en Pages : 712
Book Description
Code of Federal Regulations Title 26, Volume 19, April 1, 2017 contains regulations governing Internal Revenue and may also be referenced as: - Code of Federal Regulations Title 26, Volume 19, April 1, 2017 - CFR Title 26 - CFR 26, Internal Revenue - CFR 26, Parts 50 to 299, Internal Revenue This volume contains Parts 50 to 299: - Part 50; REGULATIONS RELATING TO THE TAX IMPOSED WITH RESPECT TO CERTAIN HYDRAULIC MINING - Part 51; BRANDED PRESCRIPTION DRUG FEE - Part 52; ENVIRONMENTAL TAXES - Part 53; FOUNDATION AND SIMILAR EXCISE TAXES - Part 54; PENSION EXCISE TAXES - Part 55; EXCISE TAX ON REAL ESTATE INVESTMENT TRUSTS AND REGULATED INVESTMENT COMPANIES - Part 56; PUBLIC CHARITY EXCISE TAXES - Part 57; HEALTH INSURANCE PROVIDERS FEE - Part 141; TEMPORARY EXCISE TAX REGULATIONS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 - Part 143; TEMPORARY EXCISE TAX REGULATIONS UNDER THE TAX REFORM ACT OF 1969 - Part 145; TEMPORARY EXCISE TAX REGULATIONS UNDER THE HIGHWAY REVENUE ACT OF 1982 (PUB. L. 97-424) - Part 148; CERTAIN EXCISE TAX MATTERS UNDER THE EXCISE TAX TECHNICAL CHANGES ACT OF 1958 - Parts 151-155; Reserved - Part 156; EXCISE TAX ON GREENMAIL - Part 157; EXCISE TAX ON STRUCTURED SETTLEMENT FACTORING TRANSACTIONS - Parts 158-169; Reserved - Parts 170-299; Reserved
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight Publisher: ISBN: Category : Business & Economics Languages : en Pages : 88
Author: Office of the Federal Register Publisher: Regulations Press ISBN: 9781354240458 Category : Languages : en Pages : 700
Book Description
26 CFR Parts 50-299 covers the Internal Revenue Service (IRS). In this volume, you will find rules, procedures, and regulations pertaining to branded prescription drug fee, and other miscellaneous excise taxes, such as public charities, health insurance provider fees, and more. Code of Federal Regulations Title 26, Volume 19, April 1, 2015 Containing parts Parts 50 to 299 Part 50; REGULATIONS RELATING TO THE TAX IMPOSED WITH RESPECT TO CERTAIN HYDRAULIC MINING Part 51; BRANDED PRESCRIPTION DRUG FEE Part 52; ENVIRONMENTAL TAXES Part 53; FOUNDATION AND SIMILAR EXCISE TAXES Part 54; PENSION EXCISE TAXES Part 55; EXCISE TAX ON REAL ESTATE INVESTMENT TRUSTS AND REGULATED INVESTMENT COMPANIES Part 56; PUBLIC CHARITY EXCISE TAXES Part 57; HEALTH INSURANCE PROVIDERS FEE Part 141; TEMPORARY EXCISE TAX REGULATIONS UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 Part 143; TEMPORARY EXCISE TAX REGULATIONS UNDER THE TAX REFORM ACT OF 1969 Part 145; TEMPORARY EXCISE TAX REGULATIONS UNDER THE HIGHWAY REVENUE ACT OF 1982 (PUB. L. 97-424) Part 148; CERTAIN EXCISE TAX MATTERS UNDER THE EXCISE TAX TECHNICAL CHANGES ACT OF 1958 Parts 151-155; Reserved Part 156; EXCISE TAX ON GREENMAIL Part 157; EXCISE TAX ON STRUCTURED SETTLEMENT FACTORING TRANSACTIONS Parts 158-169; Reserved Parts 170-299; Reserved
Author: Daniel W. Hindert Publisher: Law Journal Press ISBN: 9781588520371 Category : Law Languages : en Pages : 1914
Book Description
Structured Settlements and Periodic Payment Judgments is a complete reference work for attorneys, settlement planners, and insurance and annuity brokers
Author: Internal Revenue Service
Author: Internal Revenue Service
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Author: Anna Henning
Author: Alexander Ash
Author: Office of the Federal Register (U S )
Author: Office of the Federal Register (Cfr)
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Author: 
Author: Office of the Federal Register
Author: Daniel W. Hindert