Tax
Oct. 6, 2001
Precise Drafting
Be specific in the settlement agreement about what amounts are allocated to what claims, with specific tax treatment for each payment.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Plaintiffs and defendants should consider the tax aspects of settlements before it is too late. Although agreements on tax issues do not bind the Internal Revenue Service, they do help. It can be quite expensive not to consider tax issues, often resulting in unnecessary legal fees and court proceedin...
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