The IRS taxes many legal settlements, and how the settlement agreement is worded matters. Get tax advice before you sign when you have bargaining power with the defendant. The IRS says wording in the settlement agreement is the most important factor in determining how you'll be taxed.
The IRS taxes many legal settlements, and how the settlement agreement is worded matters. Get tax advice before you sign when you have bargaining power with the defendant. The IRS says wording in the settlement agreement is the most important factor in determining how you'll be taxed.
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