News & Analysis as of

Corporate Taxes Tax Cuts and Jobs Act Settlement Agreements

Obermayer Rebmann Maxwell & Hippel LLP

IRS Clarifies the New Section 162(q) Related to the Settlement of Sexual Harassment Claims

On February 28, 2019, the IRS posted an FAQ clarifying Section 162(q) of the Internal Revenue Code, which was added by the 2017 Tax Cuts and Jobs Act. As previously summarized by HR Legalist, a strict reading of Section...more

Dentons

Time's Up For Tax Breaks On Secret Settlements

Dentons on

#TimesUp and #metoo has dominated the news cycle for months. With the public spotlight on the Harvey Weinstein, Matt Lauer, and Larry Nassar scandals, some people fear confidential settlement agreements may perpetuate sexual...more

Latham & Watkins LLP

Tax Act Changes Deductibility of False Claims Act Payments

Latham & Watkins LLP on

The new tax law limits the deductibility of False Claims Act settlements and requires that settlement agreements identify the deductible “restitution” amount. Settlements under the False Claims Act (FCA), which often...more

Ervin Cohen & Jessup LLP

New and Proposed Tax Legislation Present New Difficulties for Employers Attempting to Settle Sexual Harassment Claims

Most employers have heard of the Tax Cuts and Jobs Act, signed into law on December 22, 2017, and have contemplated what it may mean for them. What has been largely overlooked, however, is a denial of deduction buried deep in...more

Obermayer Rebmann Maxwell & Hippel LLP

New Tax Act Bars Deductions for Settlements Related to Certain Sexual Harassment Claims

The recently enacted Tax Cuts and Jobs Act (the Act) has been touted as the largest tax reform since 1986. Among its many provisions, the Act adds a new section to the Internal Revenue Code (Section 162(q)) targeting...more

Parker Poe Adams & Bernstein LLP

New Tax Law Prohibits Deduction for Sexual Harassment Settlements With Confidentiality Clauses

The new tax reform law contains a provision intended to address continuing concerns over sexual harassment in the workplace. Now employers that settle sexual harassment or sexual abuse claims with employees cannot deduct...more

Lathrop GPM

#metoo Impact Reaches New Tax Law

Lathrop GPM on

Allegations of sexual harassment occurring for years or even decades have roiled the news in 2017. Some argue that settlements of these issues that required the parties to maintain confidentiality have protected repeat...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New Tax Reform Bill Stifles #MeToo Settlement Deductions

In acknowledgment of the recent sexual misconduct allegations and the confidential settlements in connection with those allegations, Congress added a new section 162(q) to the Internal Revenue Code as part of the Tax Cuts and...more

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