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Qualified Settlement Funds: A Practical Tax Tool for Managing Lawsuit Settlement Proceeds
When a lawsuit settles, the parties often focus on the settlement amount, the release, confidentiality, payment timing, and dismissal. Tax reporting is sometimes treated as a secondary issue. That can be a mistake. In many cases, the timing, structure, and destination of settlement payments can materially affect tax reporting, plaintiff planning, attorney-fee issues, lien resolution, structured settlement decisions, and the defendant’s ability to close the matter.
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