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Income Taxes › Settlement Agreements › Taxation

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Bricker Graydon LLP

The Legal Ramifications of NIL Deals

Bricker Graydon LLP on

Since the NCAA lifted its restrictions in 2021, student-athletes have been able to profit from their name, image, and likeness (“NIL”), sparking a major shift in college athletics. Compensation for student-athletes has...more

Littler

Recent U.S. Tax Court Opinion Illustrates How Language in Settlement Agreements Can Determine Tax Treatment of Payments

Littler on

In Mennemeyer v. Commissioner,1 the United States Tax Court reminds us that a settlement agreement that is not carefully drafted can have significant tax consequences....more

JAMS

Are Emotional Distress Damages in FEHA Settlements Taxable?

JAMS on

In California FEHA settlements, plaintiffs often recover damages for both emotional distress and lost wages—but how are those payments taxed? Employers often compel an allocation in damages between wages (economic loss) and...more

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