Common use of Tax Allocation of Individual Class Payments Clause in Contracts

Tax Allocation of Individual Class Payments. 20% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. 15% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses and 65% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties (the “Non-Wage Portion”). The Non- Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 2 contracts

Samples: Class Action and Paga Settlement Agreement and Class Notice, Class Action and Paga Settlement Agreement and Class Notice

AutoNDA by SimpleDocs

Tax Allocation of Individual Class Payments. 20% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. 15% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses and 65The 80% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties non-statutory damages (the “Non-Wage Portion”). The Non- Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions are not subject to wage withholdings and will be reported of the Individual Class Payments on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Tax Allocation of Individual Class Payments. 2010% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. 15The 90% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses alleged unpaid interest (45% allocation), and 65alleged unpaid civil and statutory penalties (45% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties allocation), (the “Non-Wage Portion”). The Non- Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Tax Allocation of Individual Class Payments. Twenty percent (20% %) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are Portion is subject to tax withholding and will be reported on an IRS W-2 FormForm W-2. 15% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses and 65% The remaining eighty percent (80%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties, with 40% being allocated to penalties and 40% being allocated to interest (the “Non-Wage Portion”). The Non- Wage Portions are Portion is not subject to wage tax withholdings and will be reported on an IRS 1099 FormsForm 1099-MISC. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Release

Tax Allocation of Individual Class Payments. Twenty percent (20% %) of each Participating Class Member’s 's Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. 15% The remaining Eighty percent (80%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses and 65% of each Participating Class Member’s 's Individual Class Payment will be allocated to settlement of claims for interest and penalties with Forty percent (40%) being allocated to interest and Forty percent (40%) being allocated to penalties (the “Non-Wage Portion”). The Non- Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Francisco Schiller

Tax Allocation of Individual Class Payments. 20% thirty-three and point thirty three percent (33.33%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. 15% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses and 65% The sixty-six point sixty-seven percent (66.67%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties (the “Non-Wage Portion”). The Non- Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Tax Allocation of Individual Class Payments. 20% of each Participating Wage and Hour Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. 1580% of each Participating Wage and Hour Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses and 65% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for non-wages, expense reimbursement, interest and penalties (the “Non-Wage Portion”). The Non- Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes Employee Paid Taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Action and Paga Settlement Agreement

AutoNDA by SimpleDocs

Tax Allocation of Individual Class Payments. 2010% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. 15% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses and 6545% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and 45% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for penalties (the “Non-Wage Portion”). The Non- Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Tax Allocation of Individual Class Payments. 20% Ten percent (10%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. 15% Ninety percent (90%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses interest, penalties, and 65% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties other non-wage damages (the “Non-Wage Portion”). The Non- Non-Wage Portions are not subject to wage withholdings and will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.

Appears in 1 contract

Samples: Settlement Agreement

Tax Allocation of Individual Class Payments. Twenty percent (20% %) of each Participating Class Member’s Individual Class Payment will be allocated to the settlement of wage claims (the “Wage Portion”). The Wage Portions are subject to tax withholding and will be reported withheld and remitted by the Administrator. The Administrator will report the Wage Portion and any tax withholdings on an IRS Form W-2 Formissued to each Participating Class Member. 15% Eighty percent (80%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for reimbursement of expenses and 65% of each Participating Class Member’s Individual Class Payment will be allocated to the settlement of claims for interest and penalties (the “Non-Wage Portion”). The Non- Non-Wage Portions are not subject to wage withholdings and will be reported by the Administrator on an IRS 1099 FormsForm 1099. Participating Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class PaymentPayments.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Time is Money Join Law Insider Premium to draft better contracts faster.