Taxation of Judgements and Settlements

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.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.
 

Presented by Allison McLeod

• Delivery Format: Live Webcast Replay

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. All in-house and public practice tax professionals will benefit from this timely and insightful seminar.

• 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. 

• 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.

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