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Taxation

Back to the Orchard: The Sixth Circuit Examines Contingent Attorney's Fees

Congratulations! That tort lawsuit against your former employer has finally settled to the tune of $1 million. Of course, you will only see $600,000 of that amount, the balance going straight to your attorney; no complaint there, she deserves every penny of it. And you seem to remember that the proceeds from a tort lawsuit are now taxable. But at today’s rates, not a problem—net-net, you will still collect around $300,000. ...

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Point & Historical Point: The Tax Protest Movement: Past, Present, and Future

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