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Civil Remedies Tax Personal Injury

Read Civil Remedies updates, alerts, news, and legal analysis from leading lawyers and law firms:

New Tax Guidance on Wrongful Imprisonment Damages

by Lane Powell PC on

At the end of 2015, Congress eliminated some of the uncertainty regarding the tax treatment of damages for wrongful imprisonment. Newly enacted Internal Revenue Code section 139F provides that gross income does not include...more

The ERISA Litigation Newsletter - March 2016

by Proskauer Rose LLP on

Editor’s Overview - This month we review the U.S. Supreme Court’s decision in Montanile v. Board of Trustees of National Elevator Industries Health Benefit Plan where the Supreme Court considered the scope of...more

Recent Tax Court Decision Addresses the Tax Treatment of Amounts Received for Anticipated Injuries

by Lane Powell PC on

On January 23, 2015, in Perez v. Commissioner, 144 T.C. No. 4, the U.S. Tax Court held that a woman was taxable on the $20,000 she received for serving as an “egg donor” to an infertile couple. To serve as an “egg...more

Does French law recognise a duty to mitigate?

by Reed Smith on

Introduction - On 2 July 2014, the 1st Civil Chamber of the French Cassation Court reaffirmed that a tortfeasor is liable for all consequences resulting from his or her tort. The victim of the tort has no duty to...more

Nevada Supreme Court Upholds Fraud Verdict Against The California Franchise Tax Board

by Allen Matkins on

The Franchise Tax Board’s Shande - This is case that has been more than two decades in the making. It began in the 1990s when inventor Gilbert Hyatt filed a California tax return showing that he relocated from...more

U.S. Tax Court Decision Shows Importance of Carefully Drafting Settlement Agreements

by Littler on

In Sharp v. Commissioner, the United States Tax Court once again demonstrated the importance of carefully crafting settlement agreements and reaffirmed that emotional distress damages are taxable income to the recipient....more

Trial Attorney Tax Summary for Taxation of Settlements and Damages – Part 1: The Basics

by Gerald Nowotny on

Overview - Legal settlements in the U.S. easily exceed one trillion dollars on an annual basis. The tax consequences of settlements and damages should be reasonably well known and settled. . However, that is not the...more

Recent U.S. Tax Court Decision Highlights Issues Regarding the Tax Treatment of Damages for Stress-Induced Physical Ailments

by Lane Powell PC on

In two cases decided in 2010, the U.S. Tax Court indicated that damages compensating for stress induced physical ailments may be tax-free where (1) the taxpayer can demonstrate that the damages were actually received on...more

Financial Fraud Law Report: Financial Fraud Victims May Benefit from Swiss Bank's Disclosures

Originally published in the July-August 2012 issue of the Financial Fraud Law Report. Lawyer Michael Diaz, Jr., Says Financial Fraud Victims May Benefit from Swiss Bank’s Disclosures Swiss banking giant UBS’...more

Fifth Circuit Rejects Section 10(b) Scheme Liability in Absence of Explicit Attribution of Conduct or Statements to Defendant

In Affco Investments 2001 LLC v. Proskauer Rose L.L.P., No. 09-20734, 2010 WL 4226685 (5th Cir. Oct. 27, 2010), the United States Court of Appeals for the Fifth Circuit held that a law firm which allegedly assisted in...more

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