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Internal Revenue Code (IRC) Attorney's Fees

Gerald Nowotny - Law Office of Gerald R....

Still the One! – The Use of Private Placement Life Insurance in Tax Planning for Trial Attorneys with Contingency Fee Income

In the Soundtrack of Our Lives, one of the songs that I still get to hear from time to time on Sirius XM, is “Still the One” which was recorded and released by the band Orleans in 1976. I was in the tenth grade just to be...more

Littler

Court Holds Backup Withholding Required by Law Does Not Violate a Settlement Agreement

Littler on

In Escano v. Innovative Financial Partners, LLC, a magistrate judge held that the defendants’ decision to withhold funds from a payment required under a settlement agreement when the plaintiff refused to provide a Form W-9...more

Freeman Law

Tax Court in Brief | Aragoni v. Comm'r | Disallowance of Deduction of Ex-Spouse’s Attorney Fees as Alimony

Freeman Law on

Summary: In this non-precedential opinion (see section 7463(b)), the Tax Court addresses an alimony deduction claimed by taxpayer Terrence Aragoni. Aragoni divorced his wife. By court order, Aragoni was ordered to pay $9,146...more

Jackson Lewis P.C.

No Tax Deduction For Sexual Harassment Settlements Subject To Confidentiality Provision

Jackson Lewis P.C. on

Congress recently passed the 2017 Tax Cuts & Jobs Act which includes Internal Revenue Code §162(q). Specifically, § 162(q) provides:- No deduction is allowed for any settlement or payment related to sexual harassment or...more

Holland & Knight LLP

Tax Reform Impacts Confidentiality in Sexual Harassment Settlements

Holland & Knight LLP on

The recently enacted Tax Cuts and Jobs Act (the Act) contains a largely unnoticed provision worth the attention of human resources professionals and legal counsel who draft and implement settlement agreements and releases of...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

Maynard Nexsen

You Lost Your Case to the IRS: Are Accountant and Lawyer Fees Deductible?

Maynard Nexsen on

Section 212(3) of the Internal Revenue Code [Code] provides in pertinent part: “In case of an individual, there shall be allowed as a deduction all the ordinary and necessary expenses paid or incurred during the taxable year...more

BCLP

Good News! New 409A Regulations (Yes, Really!) – Part 1: Firing Squad

BCLP on

On the TV show Futurama, the aged proprietor of the delivery company Planet Express, Professor Hubert J. Farnsworth, had a habit of entering a room where the other characters were gathered and sharing his trademark line,...more

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