The May 2011 revision of the IRS 'Lawsuit, Awards and Settlements Audit Techniques Guide is packed with useful information for structured settlement consultants, plaintiff and defense lawyers and advisors. The 44 page reference guide includes chapters about
1. Taxability of Lawsuit Payments
2. Related topics, including
- Payroll and Self Employment Tax Considerations
- Deductions for Attorney Fees
- Accrued interest on Court Judgments
3. Examination Considerations
4. Penalties
5.Reporting Requirements
6. A Quick Cite and Synopsis of Litigated Cases on a variety of topics
The dynamic nature of the agencies o activities is evident in the accompanying disclaimer, which reads:
NOTE: This document is not an official pronouncement of the law or the position of the Service and cannot be used, cited, or relied upon as such. This guide is current through the publication date. Since changes may have occurred after the publication date that would affect the accuracy of this document, no guarantees are made concerning the technical accuracy after the publication date.
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