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Taxation of Judgement and Settlements

Available Until Wednesday, Mar. 31, 2027

Online

2.00 Credits

Member Price $58.00

Non-Member Price $93.00

Overview

Description:

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.

Objectives

  • 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.

Highlights

  • 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.

Developed by: Allison M. McLeod, LL.M., CPA. A PLLC

Designed For

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.

Prerequisites

None

Preparation

None

Notice

You will receive an email from CPA Crossings with instructions to access this product.

Non-Member Price $93.00

Member Price $58.00

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