Tax,
Law Practice
Oct. 23, 2020
Remember, IRS taxes most settlements, exact wording matters
If you are a plaintiff, you should care about taxes, and if you are a plaintiff’s lawyer, you should make sure your client takes time to think about these issues while there is still time to influence them.
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.
If you are a plaintiff, you should care about taxes, and if you are a plaintiff's lawyer, you should make sure your client takes time to think about these issues while there is still time to influence them. If you collect a legal settlement, the tax treatment varies depending on how you were damaged, how the case was resolved, how checks and IRS Forms 1099 were issued and more. Whether you settle your case, win a judgment, or even if your dispute only reached the lett...
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