Perspective
Dec. 31, 2013
Consider tax implications before settling employment matters
Attorneys on either side of an employment law case need to consider the tax implications of settlement. By Mitchell B. Dubick and Joshua P. Katz
Attorneys on either side of an employment law case need to consider the tax implications of settlement. Knowledge of the taxation and deductibility of settlement payments made to claimants and their attorneys, as well as the reporting requirements for such payments, will enable both sides to maximize the benefits and avoid unnecessary taxes and penalties for failure to comply with the Internal Revenue Code.
The...
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