When an age, gender, race, or religious discrimination lawsuit is settled the claimant’s portion is the net after attorney fees and expenses are paid. The amount they receive is taxable. Due to the size of these cash settlements that frequently puts the claimant into the highest tax bracket.
The Challenge: How to get the claimant the most money after paying their taxes.
The Solution:
When the claimant in a taxable case receives an all-cash settlement, they will be are frequently forced into a much higher income tax bracket. The Pass Tax Deferral Solution lets the claimant spread their settlement payment proceeds over a number of years, to put them in a lower tax bracket and that means more money.
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