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. 80% 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.
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.
Tax Allocation of Individual Class Payments. 33% of each Individual Class Payment will be allocated to . The Wage Portions are subject to tax withholding and will be reported on an IRS W-2 Form. The 67% Individual Class Payment will be allocated to settlement of claims for interest and penalties -Wage 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.
Tax Allocation of Individual Class Payments. Fifteen percent (15%) of each Settlement 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. Eighty-five percent (85%) of each Settlement 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. Settlement Class Members assume full responsibility and liability for any employee taxes owed on their Individual Class Payment.
Tax Allocation of Individual Class Payments. Fifteen percent (15%) 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. The remaining Eighty-five percent (85%) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest, reimbursements and other non-wage recovery (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. Neither Plaintiff, Class Counsel, Defendants nor Defense Counsel are providing any advice regarding taxes or taxability.
Tax Allocation of Individual Class Payments. One third (1/3) of each Participating Class Member’s Individual Class Payment will be allocated to settlement of wage claims (the “Wage Portion”). The Wage Portion is subject to tax withholding and will be reported on an IRS W-2 Form. Two thirds (2/3) 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 Portion is 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. The Parties acknowledge and agree that they have bargained over the appropriate tax allocation of the Individual Class Payments in good faith and at arm’s-length, and that the agreed-upon tax treatment fairly comprises the elements of damages sought in Action. The Parties acknowledge and agree that Defendant has made no representations or warranties to anyone regarding the income tax or employment tax consequences of any payment made hereunder. Except for the employer share of FICA, FUTA, and other payroll taxes, Participating Class Members will be responsible for paying any taxes that may be owed on amounts they receive under the Settlement, including the amounts being reported on IRS Form 1099. The Administrator will be responsible for making all payments due under the Settlement and submitting all required IRS W-2 and 1099 Forms with respect to such payments.
Tax Allocation of Individual Class Payments. Payments from the NSA will be allocated 30% as wages subject to wage withholdings, and 70% as expenses, interest, and penalties, which will be reported on IRS 1099 Forms. Participating Class Members assume full responsibility and liability for any taxes owed on their Individual Class Payment.
Tax Allocation of Individual Class Payments. The Settlement Administrator will pay the amount of the Participating Class Members’ portion of normal payroll withholding taxes out of each person’s Individual Settlement Share. The Settlement Administrator will calculate the amount of the Participating Class Members’ and Defendant’s portion of payroll withholding taxes. The Settlement Administrator will submit Defendant’s portion of payroll withholding tax calculation to Defendant for additional funding and forward those amounts along with each person’s Individual Settlement Share withholdings to the appropriate taxing authorities. 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. The 80% of each Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for [e.g., 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 taxes owed on their Individual Class Payment.
Tax Allocation of Individual Class Payments. One-third 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. The remaining two-thirds 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 Paid Taxes owed on their Individual Class Payment. The Individual Class Payments made to Participating Class Members under this Settlement, and any other payments made pursuant to this Settlement, will not be utilized to calculate any additional benefits under any benefit plans to which any Participating Class Members may be eligible, including, but not limited to, profit-sharing plans, bonus plans, 401(k) plans, stock purchase plans, vacation plans, sick leave plans, PTO plans, and any other benefit plan. Rather, it is the Parties’ intention that this Settlement Agreement will not affect any rights, contributions, or amounts to which any Participating Class Members may be entitled under any benefit plans.
Tax Allocation of Individual Class Payments. One-third 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, which shall be issued by the Administrator. The remaining two-thirds of each Ventura Superior Court Accepted through eDelivery submitted 01-09-2024 at 03:20:00 PM Participating Class Member’s Individual Class Payment will be allocated to settlement of claims for interest and penalties (the “Non- Wage Portion”).v 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.
