Taxation of personal injury and sickness awards.(Brief Article)Pierson, Steven GNemeth, John F
This is adding injury to injury. But Ms. Markle can be comforted by the fact that she’s not an outlier. Because of America’s bad worldwide tax regime (and especially because of FATCA, which makes enforcement of that bad system especially painful), an ever-growing number of overseas Amer...
Property owners may also have liabilities, which is the case if a business owner is on the hook for medical expenses resulting from a customer incurring an injury on his company's grounds. The most common types of property are real, private, government-owned, and personal property. ...
In the Form 1099-MISC scenario, if the amounts received are for settlement of a claim for services, you will be in the same position tax wise as if you were self-employed or had worked for the employer as an independent contractor. This means that you will be on the hook for all of...
Worker's compensation is a mandatory benefit administered by theDepartment of Labor. It provides financial support to injured or ill employees caused by their jobs. Worker's compensation covers medical expenses related to the injury or illness. It also compensates for lost wages if the employee ca...
However, an examination of non-tax considerations reveals that taxing personal injury damages could, in many cases, hinder the ability of tort law to meet its goals. It is argued that tort and tax law objectives can be reconciled by amending the Income Tax Act (Canada) to allow all ...
Taxation of Personal Injury AwardsTaxation of Personal Injury Awards Section 104(a)(2) of the Internal Revenue Code provides...Colburn, Steven CEnglebrecht, Ted D
damagespersonal injurystructured settlementperiodical paymentlump sumtaxationRevenueThis article examines the taxation rules which first encouraged the development of structured settlements in the UK. These arrangements enable damages for persoRichard LewisSocial Science Electronic Publishing...