Taxation of Settlement Payments

Georgia Bar Journal
October 18, 2019

In the October issue of the Georgia Bar Journal, Julian Fortuna and Gerika Kelly discuss the legal ramifications that a plaintiff, defendant, or counsel could face for failing to address probable tax consequences before a settlement is finalized. Mr. Fortuna and Ms. Kelly explain the importance of analyzing the tax consequences of the payment and receipt of settlement funds. They provide best practices for addressing possible tax consequences during each stage of the proceedings including:  

  • Payments by Employers
  • Non-Taxable Payments
  • Attorney Fees and Related Costs
  • Punitive Damages
  • Fines and Penalties

Kristin Poland, the editor-in-chief of the Georgia Bar Journal, was quoted in the Georgia Bar Journal's October Issue. Ms. Poland said, “Our legal article, “Taxation of Settlement Payments” by Julian A. Fortuna and Gerika Kelly, addresses a topic that is tremendously important across a wide range of practice areas. The authors provide valuable information regarding the tax consequences of payments for both the recipient and the payer of settlement proceeds. In so doing, attorneys can shape the way in which they advise clients to achieve the best possible outcome.”

Learn more about the Taxation of Settlement Payments.

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