Many settlement agreements don't say anything about tax forms. Yet many defendants issue a Form 1099 to the plaintiff, and a ...
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IRS payment plans: What to expect in 2026
Receiving a notice from the IRS about an outstanding balance can be daunting, especially if immediate payment isn't feasible.
Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. If you received a lawsuit settlement in 2024, you probably ...
Knowing how IRS minimum payments are calculated can make a major difference in how manageable your tax debt is.
Most defendants issue IRS Forms 1099 for legal settlements. The form may be issued to the lawyer, the client, or both. Frequently, both the client and the lawyer receive a Form 1099 for 100%, making ...
Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. This “backup withholding” at 24% is the usual consequence of ...
Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Closeup of Form 1099-NEC and 1099-MISC. The IRS has reintroduced ...
Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Forms 1099 generally saddle you with income you have to report.
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