Author: Robert W. WoodPublisher: Tax Institute of America
ISBN:
Category : Law
Languages : en
Pages : 706
Book Description
Taxation of Damage Awards and Settlement Payments
Author: Robert W. WoodPublisher: Tax Institute of America
ISBN:
Category : Law
Languages : en
Pages : 706
Book Description
Tax Aspects of Damage Awards and Settlements
Author: Fred M. PetersPublisher:
ISBN:
Category : Damages
Languages : en
Pages : 50
Book Description
Tax Aspects of Litigation Damage Awards and Settlement
Author: Federal Tax Aspects of Injury, Damage, and Loss
Author: Lawrence A. FrolikPublisher: BNA Books (Bureau of National Affairs)
ISBN:
Category : Business & Economics
Languages : en
Pages : 264
Book Description
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.
Taxation of Damage Awards and Settlement Payments
Author: Taxation of Contingent Legal Fees on Settlements Or Awards
Author: Richard E. SympsonPublisher:
ISBN:
Category : Income tax
Languages : en
Pages : 122
Book Description
Taxation for Personal Injury Practitioners
Author: MaughanPublisher: Bloomsbury Professional
ISBN: 9781845927240
Category : Business & Economics
Languages : en
Pages : 214
Book Description
"This title is designed as a practical aid to Personal Injury Lawyers in advising their clients on the tax implications of a damages award or settlement. It offers guidance on the sources of tax law and goes into substantial depth on the income tax implications when calculating damages. It also covers CGT and NIC, and concisely explains and illustrates specific tax issues regarding structured settlements, social security benefits, damages for injuries at work and insurance benefits. Aimed at the non-tax specialist this title is written and presented in a user-friendly format, containing many worked examples and calculations. It is an invaluable reference tool for any Personal Injury Lawyer."
Designing the Tax Treatment of Litigation-Related Costs
Author: Sachin S. PandyaPublisher:
ISBN:
Category :
Languages : en
Pages : 37
Book Description
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.
Lawsuits and Settlements
Author: Kenneth W. GideonPublisher:
ISBN:
Category : Actions and defenses
Languages : en
Pages : 318
Book Description
Model Rules of Professional Conduct
Author: American Bar Association. House of DelegatesPublisher: American Bar Association
ISBN: 9781590318737
Category : Law
Languages : en
Pages : 216
Book Description
The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.