Taxation of Judgement and Settlements

• 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.