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Depending upon which party to an employment dispute that you are representing, the tax consequences of a settlement payment are quite different. Therefore, a well-prepared attorney will be familiar not only with the tax consequences of a settlement payment to his or her client, but also the tax consequences of the same settlement payment to the opposing party. Importantly, understanding the taxation of settlement payments allows an attorney representing the plaintiff to know in advance the “net” settlement payment that his or her client will receive and allows an attorney representing the defendant to be cognizant of any taxes that the defendant will have to pay in addition to the negotiated settlement payment.

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