How Litigation Settlements and Judgments Are Taxed

Robert W. Wood | Wood LLP

Rob Wood is a tax lawyer with a nationwide practice at Wood LLP. He writes tax opinions, serves as an expert witness, and handles tax audits and disputes. But he is best known for advising on the tax treatment of legal settlements and judgments. He is the author of Taxation of Damage Awards and Settlement Payments (5th Ed. 2021) and writes for Forbes and other publications.

I. Tax treatment of personal physical injury recoveries, how physical must it be? | 2:00pm – 2:20pm

II. Tax treatment of employment settlements, wages, Form 1099, etc. | 2:20pm – 2:40pm

III. Which plaintiffs need to worry about the tax treatment of legal fees? | 2:40pm – 3:00pm

Break | 3:00pm – 3:10pm

IV. Taxing fire, insurance, construction, and other property-based recoveries | 3:10pm – 3:25pm

V. Settlement agreement drafting tax tips | 3:25pm – 3:40pm