Tax,
Labor/Employment
Jul. 7, 2022
Handling employment settlement tax issues
Is it worth fighting over employment case settlement agreement wording? You bet. The language of the settlement agreement does not bind the IRS or state taxing authorities. However, wording about these issues in the settlement agreement is important. In fact, you might say critical.
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.
Legal claims about employment are one of the most common kinds of legal disputes. Just about every employment suit or settlement raises tax issues for employer and employee, and there are some common misconceptions. Most plaintiffs use contingent fee lawyers, and many assume that they are only responsible for the net money they collect after legal fees. But in Banks v. Commissioner, 543 U.S. 423 (2005), the U.S. Supreme Court ruled that plaintiffs must include contin...
For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In