Income Tax Considerations in Litigation (SMTX08/20)

Event Description

There are major taxation issues that arise during general litigation. Be prepared to advise your clients of those issues. This course will cover topics covered include damages, wrongful dismissal, divorce, bankruptcy, real estate, corporate share repurchases, partnership disputes and trusts and estates.

Determining whether the proceeds of a settlement or lawsuit judgment is included in income depends on all the facts and circumstances of a given legal proceeding. Settlement payments or litigation proceeds may consist of multiple elements producing different tax consequences and reporting requirements.

Objectives

Learning Objectives
• Determine tax consequences of taxable settlements
• Determine how to properly report taxable settlements and lawsuit judgements

Discussion Leader

Anthony Rocca, CPA