COURSE DESCRIPTION
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.