Handling Taxation of Settlements and Court Judgements

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-19T01:38:12.000
dc.date.accessioned 2020-06-29T22:54:15Z
dc.date.available 2020-06-29T22:54:15Z
dc.date.embargo 2017-11-06
dc.date.issued 2005-01-21
dc.description.abstract <p>Although the issue has been controversial since the decision in Cotnam v. Commissioner<sup>1 </sup>in 1959, the handling of settlements and court judgment recoveries has been a matter of major concern only in the last decade.<sup>2 </sup>The issue is whether legal fees paid to the taxpayer’s attorney or attorneys are excludible from the recovery or whether the entire recovery must be included in the taxpayer’s income, with the attorney’s fee treated as a miscellaneous itemized deduction subject to the two percent floor<sup>3 </sup>which often triggers alternative minimum tax.<sup>4</sup></p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol16/iss2/1/
dc.identifier.articleid 1762
dc.identifier.contextkey 10999798
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol16/iss2/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/3228
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol16/iss2/1/AgLawDigest_v16n02_01.pdf|||Fri Jan 14 17:49:54 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title Handling Taxation of Settlements and Court Judgements
dc.type article
dc.type.genre article
dspace.entity.type Publication
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relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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