Lack of Planning Can Result in Poor Settlements

Michael Gillen and Barbara A. Ruth
June 5, 2008 — 829 views  


The federal tax treatment of litigation settlements or judgments and related legal fees can have a significant impact on the net value of a settlement or award. Ideally, tax consequences should be considered from day one of the litigation process. While proper planning can make a good settlement better, failure to adequately plan can transform an otherwise good settlement into a bad one or make a bad settlement even worse.
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