Designing The Tax Treatment Of Litigation Related Costs

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Designing The Tax Treatment Of Litigation Related Costs

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Author : Sachin S. Pandya
language : en
Publisher:
Release Date : 2018

Designing The Tax Treatment Of Litigation Related Costs written by Sachin S. Pandya and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.

Defendants often deduct for income tax purposes their litigation-related costs, such as attorney fees and payments to settle claims or satisfy judgments. The result is often a large gap between the sticker price of settlements or judgments and their after-tax cost--what defendants really pay out of pocket. The problem: For every dollar that a defendant avoids in tax liability by, for example, deducting the damage awards it pays, the civil justice system falls that much short of its corrective-justice or optimal-deterrence goals in that case. For this reason, the entire civil justice system should care about this question: How should income tax law treat litigation-related costs? This Article identifies the critical tax-design choices that must be faced but that prior commentary has largely ignored: How to attribute litigation-related costs to an income-producing activity; whether to treat liability insurer payments made on a defendant's behalf as income to that defendant; whether to coordinate the tax treatment of a payor's damages payments with the tax treatment of those receipts to the payee; and whether litigation-related costs should be treated as capital expenditures. Then, the Article offers a new default rule for settlement agreements: Unless a settlement agreement expressly indicates otherwise, a settling defendant promises not to seek an allowable tax deduction for litigation-related costs. In so doing, this Article reveals the issues that lawyers, judges, and scholars must no longer ignore when they argue over how an income tax system could or should treat litigation-related costs.

Designing Interest And Tax Penalty Regimes

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Author : Mr.Christophe J Waerzeggers
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-19

Designing Interest And Tax Penalty Regimes written by Mr.Christophe J Waerzeggers and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-19 with Business & Economics categories.

Designing Interest and Tax Penalty Regimes

Tax Law Design And Drafting Volume 1

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Author : Mr.Victor Thuronyi
language : en
Publisher: International Monetary Fund
Release Date : 1996-08-23

Tax Law Design And Drafting Volume 1 written by Mr.Victor Thuronyi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-08-23 with Business & Economics categories.

Edited by Victor Thuronyi, this book offers an introduction to a broad range of issues in comparative tax law and is based on comparative discussion of the tax laws of developed countries. It presents practical models and guidelines for drafting tax legislation that can be used by officials of developing and transition countries. Volume I covers general issues, some special topics, and major taxes other than income tax.

Review Of Civil Litigation Costs

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Author : Great Britain. Ministry of Justice
language : en
Publisher: The Stationery Office
Release Date : 2010

Review Of Civil Litigation Costs written by Great Britain. Ministry of Justice and has been published by The Stationery Office this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Law categories.

In January 2009, the then Master of the Rolls, Sir Anthony Clarke, appointed Lord Justice Jackson to lead a fundamental review of the rules and principles governing the costs of civil litigation. This report intends to establish how the costs rules operate and how they impact on the behavior of both parties and lawyers.

Improving Vat Gst Designing A Simple And Fraud Proof Tax System

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Author : Michael Lang
language : en
Publisher:
Release Date : 2014

Improving Vat Gst Designing A Simple And Fraud Proof Tax System written by Michael Lang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Electronic books categories.

"This book will be an interesting and valuable tool for both regulators and practitioners alike to deepen their understanding of the various tax systems and the way certain issues are solved under different regimes, in order to encourage international trade and lay the groundwork for the removal of tax obstacles and related costs in global commerce."--Extracted from publisher website on March 25, 2014.

Accounting And Valuation Guide Assets Acquired To Be Used In Research And Development Activities

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Author : AICPA
language : en
Publisher: John Wiley & Sons
Release Date : 2016-11-07

Accounting And Valuation Guide Assets Acquired To Be Used In Research And Development Activities written by AICPA and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-07 with Business & Economics categories.

This new guide provides guidance and illustrations regarding the initial and subsequent accounting for, valuation of, and disclosures related to acquired intangible assets used in research and development activities (IPR&D assets). This is a valuable resource for preparers of financial statements, auditors, accountants and valuation specialists seeking an advanced understanding of the accounting, valuation, and disclosures related to acquired IPR&D assets.

Medical And Dental Expenses

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Author :
language : en
Publisher:
Release Date : 1990

Medical And Dental Expenses written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Income tax deductions for medical expenses categories.

Tax By Design For The Netherlands

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Author : Sijbren Cnossen
language : en
Publisher: Oxford University Press
Release Date : 2022

Tax By Design For The Netherlands written by Sijbren Cnossen and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with Business & Economics categories.

"This book is the product of the first Cnossen Forum-Tax by design for the Netherlands that was held on 23-24 May 2019."--Page v.

Self Employment Tax

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Author :
language : en
Publisher:
Release Date : 1988

Self Employment Tax written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Income tax categories.

Basis Of Assets

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Author :
language : en
Publisher:
Release Date : 1995

Basis Of Assets written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Capital gains tax categories.