Tax & Legal
Structured Settlements Tax Statutes
- Article XVI , United States Constitution
- Power of Congress to tax
- IRC Section 461
- General rule for taxable year of deduction
- IRC Section 461 (h)
- Economic performance requirement (timing of expense/deduction)
- IRC Section 104,
- Compensation received on account of personal physical injury is not taxed
- IRC Section 130,
- Defendants may assign their future obligations to a third party
- IRC Section 468b
- Special rules for designated settlement funds
- IRC Section 5891
- Structured settlement factoring transactions (sale of SS payments)
- IRS Section 409 Guidance
- Deferred compensation not applying to services provided to clients by an attorney
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