Ad
related to: tax treatment of settlement payments actassistantsage.com has been visited by 10K+ users in the past month
Search results
Results from the WOW.Com Content Network
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.
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.
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 ...
Apr. 10—Question : My mom received a settlement check from the Kalima v. State of Hawai 'i class action lawsuit. She has not received any other document, including a 1099, that indicates any ...
United States v. Davis, 370 U.S. 65 (1962), is a federal income tax case argued before the United States Supreme Court in 1962, holding that a taxpayer recognizes a gain on the transfer of appreciated property in satisfaction of a legal obligation.
Tax debt relief is a way the government helps you when you can’t afford to pay your tax bill. This comes in the form of a payment plan or a settlement in which the IRS agrees to settle your tax ...
This case highlights an ambiguous area in the U.S. tax code's treatment of deposits. The code treats advance payments and loans differently. Generally, the full amount of an advance payment for services is taxable income to the recipient in the year received. This is true even if the services extend beyond the taxable year.
What is a "fresh start" when it comes to tax debt? It isn't as easy to get as high-priced tax relief outfits or "offer in compromise mills" suggest. IRS warns about false promises of 'pennies on ...
Ad
related to: tax treatment of settlement payments actassistantsage.com has been visited by 10K+ users in the past month