Questions tagged [lawsuit-settlement]
The lawsuit-settlement tag has no usage guidance.
19
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Nonresident alien -- Tax filing and late payments for class action settlement
I am a non-resident alien having lived in the USA in 2015-2021. I just found out I'd received a class action settlement for almost $400 back in May 2022. (The funds were deposited into my PayPal ...
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Can someone sue for house ownership if they gave money for it?
My parents received money from my grandmother to put a down payment for a house. After my parents purchased the home and put the house under their names, my grandmother moved in and eventually after 3 ...
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Can I sue the car dealership for fraud if they let my ex finance a car under my name?
About 4 years ago (2018), i was living with my ex and I leased a car for 3 years but under my name only. 2 years later (2020), we broke up but i let her use the car for the last year of the lease. ...
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Can I create an LLC to put my assets into it in case I am personally sued
This is kind of the reverse of what typically people do. Typically an LLC is created to protect the owner's assets if the LLC is sued. I'm looking at it in the reverse order. If I put my money into ...
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Is a check paid to me still cashable despite mistakenly writing a bank's name on the back and checking the box for 'mobile/remote deposit'?
I received a check for settlement money. Due to how long it took to receive the check, I need to be able to cash the one I have now, if possible.
I naively wrote the name of my bank for PayPal, ...
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what tax form do you get for settlements?
I was just reading about how Uber was ordered to pay $1.1M for denying rides to a blind person. No doubt the litigant will only get a portion of that, with the rest going to lawyer fees, but, anyway, ...
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4
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246
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How does the IRS know which lawsuit settlements to tax?
A relative received a modest settlement. The judge who worked on the case gave a letter to him, and the letter was careful to specify that the settlement was for a physical injury. The IRS does not ...
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Grandmother's MetLife policy showing up as unclaimed property
Last week, a former co-worker encouraged me to search for unclaimed property in Michigan. I've done this before (several years ago) and did not find anything. However, since I changed jobs a few years ...
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122
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Are short sellers responsible for damages in a securities class action suit?
Imagine that XYZ company was found liable for its misdeeds and its shareholders are awarded a compensation. Are the short sellers on the hook as well? That is, do they need to pay the amount of the ...
- 121
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82
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Received a settlement check for lost wages, what kind of taxes apply?
I received a settlement check from a company for lost wages, and was given a 1099 for 2019. The check itself was for about $2.3k USD, and included a breakdown that didn't make sense to me and showed ...
- 620
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Tax Document/Notification for Arbitration Award
In late 2017, I went through arbitration with a business and was awarded approximately $950 (USD) in the form of a check.
My experience has always been that anything over $600 from a business, in ...
- 322
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228
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Do I need to 1099 my attorney in a settlement that paid the attorney directly?
Do I need to send my attorney a 1099 if they were paid directly in a settlement but I got a 1099-Misc box 3 (other income) from the other party who paid the attorney the full amount of the settlement (...
- 1,803
2
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80
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Where to report 1099-Misc income and attorney expenses for a lawsuit settlement? [duplicate]
I personally received a 1099-Misc for a settlement income with a creditor that was incorrectly reporting information on my credit report. The settlement read in part:
Bank agrees to pay Customer $...
- 1,803
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Class action settlement reached for former stock holders. Is it worth the hassle to participate?
I received a letter that class action settlement has been reached for former CHTP stock holders. If I understand correctly I would have to file a claim and I could possibly get some money back if I ...
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How would I prove my claim in a class action settlement on a "stock misconduct" case when I shorted the stock?
In order to participate in a net settlement fund, a claimant must have "purchased or otherwise acquired stock". If I shorted does the stock did I "purchase it or otherwise acquire it"?
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When investing a settlement, what tax ramifications should be considered?
Let us suppose that someone receives a lump sum settlement from a car accident (personal injury) case and would like to invest it for maximum long-term returns. We will say that the settlement amount ...
- 2,871
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What happens to class action awards for a stock in an IRA?
One of the individual stocks I own in an IRA account recently lost a bunch of value, allegedly due to misconduct on its officers' part, and is now the defendant in a bunch of class action lawsuits on ...
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Are IRAs and 401(k)s protected against lawsuits and garnishments?
There's as similar question about bankruptcy, but these protections apply to lawsuits or garnishments?
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277
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1099 for settlement what about lawyer fees?
I am getting a settlement from a business over a suit but most of the settlement will go to the attorney to cover their fees incurred on contingency. If the 1099 reports the full settlement, will I ...
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