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Tax Consequences of Employment-Related Litigation and Settlements

Learn how to minimize the impact of employment related litigation and settlements to your bottom line.

There is no shortage of employment-related litigation these days, and employers are constantly defending themselves from various claims made by current and former employees. Employers should have a clear understanding of the employment tax consequences of such litigation. With careful planning, employers can seek to minimize the tax consequences without running afoul of the IRS and state tax agencies. This topic will explain how to examine the tax consequences of a complaint, the proper tax characterization of most kinds of payments made in employment-related litigation, provide tips for drafting and negotiating over tax consequences, and explain the proper tax reporting for payments.

Runtime: 88 minutes
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Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Understanding the Parties' Tax Objectives

  • The Plaintiff's Perspective
  • The Defendant's Perspective
  • The Mediator or Judge's Perspective

Understanding the Nature of Claims and Character of Payments

  • Understanding the Nature of the Allegations in a Complaint From a Tax Perspective
  • Wage Related Payments, Including Severance Pay, Back Pay and Front Pay
  • Exceptions to Wage Related Payments
  • Emotional Distress, Defamation and Other Compensatory Kinds of Damages
  • Attorney's Fees, Including Fee-Shifting Statutes
  • Payments for Benefits
  • Payments to Class Representatives
  • Noncash Payments

Negotiating Over Tax Consequences

  • Impact of Agreement Upon Government Tax Agencies
  • Indemnity Provisions
  • Drafting Techniques

Tax Reporting and Other Issues

  • Proper Tax Reporting of Wage and Nonwage Payments
  • Understanding Proper Tax Reporting for Third-Party Payors
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on June 9, 2016.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

William Hays Weissman

William Hays Weissman

Littler Mendelson P.C.

  • Shareholder and member of the Board of Directors of Littler Mendelson P.C., the nation’s largest labor and employment law firm dedicated to representing management, resident in its in Walnut Creek, California
  • National legal practice in employment and tax matters
  • A frequent speaker and writer on various employment an d tax issues, including a regular column in State Tax Notes, a weekly national publication on state tax issues, and articles in numerous publications including The New Republic, The CPA Journal, the Journal of Taxation of Investments, and the Employee Benefit Plan Review.
  • Recognized as a leading employment tax attorney and a past chair of Employment Taxes Committee of the Tax Section of the American Bar Association
  • J.D. degree, District of Columbia School of Law; LL.M. degree in taxation, Golden Gate University School of Law; M.B.A. degree, University of California at Davis Graduate School of Management; B.A. degree, The George Washington University
  • Can be contacted at 925-927-4545 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 397803
Published 2016
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