Taxation of Judgements and Settlements
Tuesday, January 07, 2025
Webcast or Webinar, Online
2:30 PM - 4:30 PM (opens at 2:00 PM) EST
2Credits
Technical Business
Registration is Open
Members
$89.00 Regular Price
Non-Members
$119.00 Regular Price
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Course Type: Webcast
Course Code: 24/CX43820
Level: Basic
Vendor: CPA Crossings, LLC
Field of Study: Taxes
Overview:
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. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.Objectives:
After attending this presentation you will be able to...
- Obtain a working knowledge of the IRC, Treasury Regulations and case law governing the taxation of litigation payments
- Distinguish between the different types of damage payments and whether they are taxable to the recipient or deductible by the payor
- Draft pleadings and agreements to order to allocate the payments among the different categories of damages
- Advise clients on the most advantageous manner of categorizing settlement payments
Major Topics:
The major topics covered in this class include:
- 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
Major Topics:
The major topics covered in this class include:
- 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