Personal Injury Settlements: Anticipating Impact of Tax Reform on Settlement Proceeds
Strategies to Manage Tax Impact on Lost Wages, Punitive Damages and Interest
Note: CPE credit is not offered on this program
Recording of a 90-minute CLE webinar with Q&A
This CLE course will guide personal injury attorneys on how to minimize the tax burden to plaintiffs on personal injury settlements after tax reform. The panel will discuss how to spot potential tax liabilities at the beginning of a claim, as well as strategies to classify damages and structure large settlements to minimize any taxes that may be owed.
- Impact of 2017 tax reform on personal injury settlements
- Types of personal injury damages that are subject to taxation
- Lost wages
- Emotional suffering
- Punitive damages
- Best practices for identifying and mitigating tax burden on settlement proceeds
The panel will review these and other important topics:
- How did the 2017 tax reform law impact personal injury settlements?
- What portions of personal injury settlements are subject to taxation?
- How can attorneys structure personal injury settlements so that any tax burden is minimized?
Robert W. (Rob) 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