by Tom Regan | Aug 3, 2010 | Audit
This is the fourth in a series of articles on issues surrounding the Taxation of Settlements and Verdicts. This article explains why an award of attorneys fees is included in a taxpayer’s gross income. Gross Income and Anticipatory Assignment. The Internal...
by Tom Regan | Jul 27, 2010 | Audit
This is the third in a series of articles on issues surrounding the Taxation of Settlements and Verdicts. This article identifies some of the things you can do to protect the character of the award. Allocate Damages. If a settlement agreement allocates the settlement...
by Tom Regan | Jul 19, 2010 | Audit
This is the second in a series of articles on issues surrounding the Taxation of Settlements and Verdicts. This article addresses the amounts that can be excluded from gross income. Amounts Excluded. Internal Revenue Code Section 104(a)(2) excludes from gross income...
by Tom Regan | Jul 12, 2010 | Audit
This is the first in a series of articles on issues surrounding the Taxation of Settlements and Verdicts. The article addresses the initial question of whether these amounts are included in gross income. General Rule. The proceeds from a settlement or verdict are part...
by Tom Regan | Jul 5, 2010 | Employment Taxes, Penalties
This is the fourth post in the Employment Tax Law series. This series is dedicated to presenting individuals, sole proprietorships, and small to large businesses with a basic understanding of employment taxes, including the risks and responsibilities associated with...
