DESCRIPTION
Taxation of Settlements & Judgments in Civil Litigation
The tax treatment of a settlement can matter as much as the amount. We break down income inclusion, exclusions, fees, interest, and timing so you can negotiate with tax in mind. Draft allocations that withstand scrutiny and avoid unpleasant surprises at filing time.
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Distinguish taxable, excludable, and capital amounts in common claims.
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Address attorney-fee reporting, deductibility, and Forms 1099 and W-2.
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Use allocation language and releases to support intended tax results.
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Evaluate timing options, structured settlements, and interest components.
Speaker:
Stephen J. Turanchik is an attorney in the Tax practice of Paul Hastings and is based in the firm’s Los Angeles office. Mr. Turanchik's practice focuses on tax controversy and litigation at the state and federal levels and tax advice on international reporting. Mr. Turanchik previously litigated for six years for the U.S. Department of Justice, Tax Division, Civil Trial Section out of Washington, DC. Mr. Turanchik has substantial litigation experience. During his tenure with the Tax Division, Mr. Turanchik handled hundreds of tax cases in federal, bankruptcy, state and probate court. He received an Outstanding Attorney award from the Tax Division in 2003.
Disclaimer: All views or opinions expressed by any presenter during the course of this CLE is that of the presenter alone and not an opinion of the Oklahoma Bar Association, the employers, or affiliates of the presenters unless specifically stated. Additionally, any materials, including the legal research, are the product of the individual contributor, not the Oklahoma Bar Association. The Oklahoma Bar Association makes no warranty, express or implied, relating to the accuracy or content of these materials.