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Oct. 1—On Thursday, California Gov. Gavin Newsom signed Assemblyman James Gallagher's Assembly Bill 1249 to make PG&E wildfire victims' settlement payments tax free. The purpose of AB 1249 is to ...
In July 2024, California Attorney General Rob Bonta announced that the state had reached a $50 million settlement with the companies. Of that, $37.5 million will be distributed as gas rebates to ...
The money — which comes from a settlement to a class-action lawsuit that Superior Court Judge Stuart M. Rice has preliminarily approved — is solely for current or former residential customers ...
The structured settlement tax rules enacted by Congress lay down a bright line path for a structured settlement. Once the plaintiff and defense have settled the tort claim in exchange for periodic payments to be made by the defendant (or the defendant's insurer), the full amount of the periodic payments constitutes tax-free damages to the victim.
A structured settlement factoring transaction is a means to raise liquidity where there is no other viable means, via the transfer of structured settlement payment rights, for items such as unforeseen medical expenses, the need for improved housing or transportation, education expenses and the like, or in a situation where the individual has simply spent all his or her cash.
Similarly, no business deduction is allowed "for any payment made, directly or indirectly, to an official or employee of any government [ . . . ] if the payment constitutes an illegal bribe or kickback or, if the payment is to an official or employee of a foreign government, the payment is unlawful under the Foreign Corrupt Practices Act of 1977."
Spread payments over time to avoid higher taxes: Receiving a large taxable settlement can bump your income into higher tax brackets. By spreading your settlement payments over multiple years, you ...
If you filled up your gas tank between Feb. 20 and Nov. 10, 2015, in certain California counties, you may be eligible for payment. Free cash coming to some California drivers, in the form of gas ...