Description: In the course of legal actions, payments may
be made pursuant to a final disposition of a court case or a mutually
agreed-upon settlement.  This course will
cover the tax implications for payments made for personal injury, emotional
distress, lost wages, punitive awards, pre- and post-judgement interest,
contract claims, among other damages.

 Who should Attend: 
This course is suitable for Corporate tax and finance executives,
directors, managers and staff, CPAs, CAs Enrolled Agents, accountants,
attorneys and business/financial advisors who work with and advise businesses
that have tax implications.  All in-house
and public practice tax professionals will benefit from this timely and
insightful seminar.

Program Content:

· Types of damages or remedies that can be awarded or agreed upon pursuant
to litigation.

· Review of the Internal Revenue Code and regulations governing the
taxation of various types of litigation payments.

· Suggestions for drafting pleadings or settlement agreements.

Learning
Objectives – After attending this course, the participant should:

· Obtain a working
knowledge of the IRC, Treasury Regulations and case law governing the taxation
of litigation payments.

· Be able to differentiate
between the different types of damage payments and whether they are taxable to
the recipient or deductible by the payor.

· Be able to draft
pleadings and agreements to order to allocate the payments among the different
categories of damages.

· Have an ability to advise
clients on the most advantageous manner of categorizing settlement payments.