Employment Litigation and Claim Settlements: Tax Withholding and Reporting Implications for Employers
Maximizing Tax Benefits and Avoiding Penalties When Allocating Settlement Proceeds, Drafting Settlement Agreements, and Reporting Payments
Recording of a 90-minute CLE webinar with Q&A
This CLE webinar will provide guidance to employment counsel and tax advisers for navigating and complying with complex tax reporting and withholding requirements when settling employment claims. The panel will discuss best practices for employers to maximize tax benefits and avoid penalties when allocating settlement proceeds, drafting settlement agreements, and reporting payments. The panel will also discuss the tax implications of plaintiff requests in settlement agreements, including non-wage treatment, personal physical sickness allocations, requests that no IRS Form 1099 be issued, and employer reliance on tax indemnifications.
- Settlement payments that must be reported
- Settlement payments that do not have to be reported
- Settlement agreement drafting strategies
The panel will review these and other key issues:
- What types of settlement payments in an employment dispute are considered taxable income?
- What tax reporting obligations do employers have following a settlement?
- What are some best practices for anticipating and addressing tax issues when negotiating employment dispute settlement agreements?
Jared R. Callister
Fishman Larsen & Callister
Mr. Callister assists businesses and their owners with respect to entity formation, operation, merger and acquisition,... | Read More
Mr. Callister assists businesses and their owners with respect to entity formation, operation, merger and acquisition, reorganization, and dissolution. In particular, his practice concentrates in the areas of corporate, partnership and real estate transactions and taxation, business and individual tax planning, estate planning and taxation of exempt organizations.Close
Charles H. Wilson
Vice Chair, Office Managing Partner
Mr. Wilson is board certified in Labor and Employment Law by the Texas Board of Legal Specialization. He represents... | Read More
Mr. Wilson is board certified in Labor and Employment Law by the Texas Board of Legal Specialization. He represents employers in complex litigation and trials arising from claims of wage and hour violations, employee raiding, race discrimination, racial profiling, retaliation (including whistle blowing), harassment, and disability discrimination. He has also represented employers in numerous administrative actions before the EEOC and state agencies.Close
Robert W. Wood
Mr. Wood has broad experience in corporate, partnership and individual tax matters. Concerning the tax treatment of... | Read More
Mr. Wood has broad experience in corporate, partnership and individual tax matters. Concerning the tax treatment of litigation settlements and judgments, he is perhaps the preeminent tax lawyer in the U.S. In addition, Mr. Wood is a frequent expert witness on tax matters in civil cases, in disputes over independent contractor versus employee classification, class actions, and tax and accounting malpractice cases.Close