Taxation of Judgements and Settlements

Course Details

Date

Friday, November 25, 2022

7:00am – 9:00am (Registration: 3:05pm)

Location

Online

Field of Study

Taxation

CPE Credit

2 hours CPE credit

Level of Knowledge

Beginning

Vendor

CPA Crossings

Prerequisites

None

Description

In the course of legal actions, payments may be made pursuant to a final disposition of a court case or a mutually agreed-upon settlement. This course will cover the tax implications for payments made for personal injury, emotional distress, lost wages, punitive awards, pre- and post-judgement interest, contract claims, among other damages. 
 
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics covered in this class include:

  • Types of damages or remedies that can be awarded or agreed upon pursuant to litigation
  • Review of the Internal Revenue Code and regulations governing the taxation of various types of litigation payments
  • Suggestions for drafting pleadings or settlement agreements

Objectives

After attending this presentation you will be able to...

  • Obtain a working knowledge of the IRC, Treasury Regulations and case law governing the taxation of litigation payments
  • Distinguish between the different types of damage payments and whether they are taxable to the recipient or deductible by the payor
  • Draft pleadings and agreements to order to allocate the payments among the different categories of damages
  • Advise clients on the most advantageous manner of categorizing settlement payments

Designed For

This course is suitable for Corporate tax and finance personnel, CPAs, CAs EAs, accountants, attorneys and business/financial advisors. All in-house and public practice tax professionals will benefit from this timely and insightful seminar.

Registration for this course has passed.

Course Pricing

WYOCPA Member Fee
$79.00

Non-Member Fee
$103.00

Your Price
$103.00

View All Professional Development Courses