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| What Forensic Accountants and Attorneys Need to Know About Tax Aspects of Damage Awards (343Q) |
Course CPE: 1 hour
Field(s) of Study: Taxes–1 hr;
Program Level: Overview
Prerequisites: None required. These overview programs may be appropriate for professionals at all organizational levels.
Advanced Preparation: None
Delivery Method: QAS Self-Study
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Item
Number: 19FA0607WFAA
Shipping Weight: 0lbs. 0oz. |
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$99.00 |
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Recording Date: June 7, 2019
Presenter: Martin Abo
Program Description:
Martin Abo's discussion in "What Forensic Accountants and Attorneys Need to Know About Tax Aspects of Damage Awards" explores what will causes a damage award to be taxable. This includes the determination of physical versus non-physical, The IRS treatment of legal feels, interest on the damage award, punitive damages, pain and suffering, and confidentiality agreements. Abo continues his discussion by describing how knowledge of these rules can mitigate the taxable portion of a damage award, including how this will benefit both accountant and client.
After completing this course, you will be able to:
- Identify the potential tax burden of a damage award
- Differentiate the types of damage awards that are taxable versus not taxable
- Recognize how the IRS treats legal fees
- Determine how a confidentiality/non-disclosure agreement effects a damage award
- Identify potential IRS determinations that could adversely effect the client
For more information regarding refund or concerns, please contact our offices at (800) 677-2009.
The Consultants’ Training Institute (CTI) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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