Tax Treatment of Settlement Payments. Twenty-five percent (25%) of each Settlement Payment will be designated as wages, which shall be reduced by your lawful deductions and withholdings. You will also receive a W- 2 form for the wages portion. Seventy-five percent (75%) of each Settlement Payment will be allocated to penalties and interest for which you will receive a 1099 form.
Tax Treatment of Settlement Payments a. Settlement awards will be allocated as non-wage damages and interest.
Tax Treatment of Settlement Payments. The Parties make no representation as to the tax treatment or legal effect of payments called for hereunder, and Participating Class Members are not relying on any statement or representations by the Parties or their counsel in this regard. Participating Class Members understand and agree that they will be responsible for the payment of taxes and penalties assessed on the payments hereunder and are encouraged to seek independent legal and tax advice regarding their tax liabilities, if any, for such payments.” 3/21/2016
Tax Treatment of Settlement Payments. 15. Each Settlement Release shall include provisions requiring that the Claimant is responsible for the payment of all applicable taxes with respect to amounts paid pursuant to the Settlement. Additionally, the Parties agree that:
Tax Treatment of Settlement Payments. The Settlement Administrator will issue a Form 1099 to each Settlement Class Member for the payments made to them under this Settlement.
Tax Treatment of Settlement Payments. (1) The Parties recognize that the monetary awards will be subject to applicable tax withholding and reporting, which will be handled as follows:
