Skilled Tax Attorneys Offering Guidance On Settlements And Judgments
When a person receives a settlement or verdict in their favor as a result of litigation, it typically means that they will receive financial compensation as a result of their success. Some may not realize that these awards can have significant tax consequences, so people need to be aware of their options to be able to truly maximize the compensation they will be able to retain.
At Solomon Dwiggins Freer & Steadman, LTD., in Las Vegas, our tax attorneys are experienced with the income tax issues arising from litigation payments and recoveries from a broad range of cases, including personal injury, wrongful termination, disability insurance claims, property condemnation, contract disputes, patent infringement, trust and estate litigation, whistleblower qui tam suits and other legal matters. We regularly are called upon to draft tax-sensitive provisions in settlement agreements and advise return preparers on the tax reporting of settlement payments. We defend our clients before the IRS and in the courts.
Offering Detailed Advice Specific To Your Situation
Making the wrong decisions could leave you exposed at such a critical time. Getting detailed guidance from our experienced tax lawyers can provide you with the assurance that you have done everything you can to protect yourself going forward.
Both before and after settlement or judgment, we can help maximize the value of deductions or payments on an after-tax basis. We have substantial experience with the formation and administration of qualified settlement funds, also known as section 468B funds, and their various uses in resolving disputes and facilitating structured settlements. We are well versed in the intricacies of structured settlements, including structured attorneys’ fees. We also advise clients with respect to the tax issues arising from litigation financing and the sale, donation, or other transfer of pending litigation claims.