2019 Articles

    TOPICS:

    All articles written by Robert W. Wood (unless otherwise noted)

     

     

    TAXATION OF DAMAGE AWARDS

     

    12 Ways to Deduct Legal Fees Under New Tax Laws, Vol. 165, No. 1, Tax Notes Federal (October 7, 2019), p. 111.

    Settling Lawsuits Or Disputes Usually Means Paying Taxes, International Business Times (September 19, 2019).

    Big Opioid Settlements, Big Tax Write Offs. Any Questions?, Forbes.com (September 14, 2019).

    Is the Sexual Harassment Provision Guidance Enough for Plaintiffs?, Vol. 164, No. 9, Tax Notes Federal (August 26, 2019), p. 1431.

    Corporate Lawsuits Are Business Expenses (But Some Are Personal), Vol. 164, No. 7, Tax Notes Federal (August 12, 2019), p. 1091.

    How Fire Victims Are Taxed, Vol. 164, No. 5, Tax Notes Federal (July 29, 2019), p. 709.

    Equifax $650M Data Breach Settlement Could Bring Tax Deduction, Forbes.com (July 22, 2019).

    Settlements and Taxes: 5 IRS Rules to Remember, Daily Journal Verdicts & Settlements (July 5, 2019), p. 4.

    Five Key IRS Rules On How Lawsuit Settlements Are Taxed, Forbes.com (July 1, 2019).

    Are Damages in Wrongful Life and Wrongful Birth Cases Taxable?, Los Angeles Daily Journal (June 27, 2019), p. 6. Simultaneously published in San Francisco Daily Journal (June 27, 2019), p. 6.

    How Lawsuit Structured Settlements Work, Forbes.com (June 26, 2019).

    Wrongful Life And Wrongful Birth Damages, Taxable or Tax-Free?, Forbes.com (June 25, 2019).

    Litigation Finance Transactions Face Taxes, So Be Careful, Forbes.com (June 18, 2019).

    When it Comes to Litigation Funding, Don’t Forget About Tax Implications, Los Angeles Daily Journal (May 29, 2019), p. 5. Simultaneously published in San Francisco Daily Journal (May 29, 2019), p. 5.

    Taxes Slash $2 Billion Roundup Weedkiller Verdict To $27.5 Million, Forbes.com (May 14, 2019).

    Can You Claim Higher Tax Bills As Lawsuit Damages?, Forbes.com (May 8, 2019).

    Legal Fees in a Post-Tax-Reform World, Vol. 73, No. 4, NWLawyer, Washington State Bar Association (May 2019), p. 48.

    New Tax Rules Could Swallow Up Much of the Monsanto Verdict, Los Angeles Daily Journal (April 1, 2019), p. 6. Simultaneously published in San Francisco Daily Journal (April 1, 2019), p. 6.

    $80M Roundup Verdict Is Only $2.5M After Taxes, New IRS Math, Forbes.com (March 28, 2019).

    Roundup Weedkiller Verdicts Draw IRS Taxes, Here's Why, Forbes.com (March 25, 2019).

    IRS Gives Tax Break To Sexual Harassment Victims, Forbes.com (March 4, 2019).

    How Settlements and Legal Fees Are Taxed Post-Tax Reform, Vol. 91, No. 2, New York State Bar Association Journal (March 2019), p. 40.

    Uncle Sam Scores in the NFL’s Settlement With Kaepernick, Too, Los Angeles Daily Journal (February 25, 2019), p. 7. Simultaneously published in San Francisco Daily Journal (February 25, 2019), p. 7.

    Jussie Smollett Faces Legal Bills, But Can He Write Them Off His Taxes?, Forbes.com (February 22, 2019).

    Court OKs Award To Neutralize Tax Liabilities On Lump-Sum Payment, Los Angeles Daily Journal (February 20, 2019), p. 5. Simultaneously published in San Francisco Daily Journal (February 20, 2019), p. 5.

    IRS Taxes Colin Kaepernick's NFL Settlement, Here's Why, Forbes.com (February 19, 2019).

    Whistleblower Tax Problems, Business Law Today, American Bar Association (February 11, 2019).

    Qualified Settlement Funds Named Like Lawyer Trust Accounts, Vol. 162, No. 5, Tax Notes (February 4, 2019), p. 525.

     

     

     

    INDEPENDENT CONTRACTOR STATUS

     

    New Law Says Independent Contractors Are Employees: What It Means For Business, International Business Times (September 21, 2019).

    It’s Not Just Uber, California Bill Could Transform Tricky Tax And Legal Rules On Independent Contractors, Forbes.com (September 12, 2019).

    Despite Sweeping California Gig Worker Law, Uber Says It Won’t Treat Drivers As Employees, Forbes.com (September 11, 2019).

    Will Your Independent Contractors Be Relabeled, And By Whom?, Los Angeles Daily Journal (February 19, 2019), p. 8. Simultaneously published in San Francisco Daily Journal (February 19, 2019), p. 8.

     

     

     

    MISCELLANEOUS

     

    Now, California Can Assess Taxes No Matter Where You Live...Really, Forbes.com (October 22, 2019).

    IRS Hunts Crypto, Hard Forks, Tax Returns And More, International Business Times (October 16, 2019).

    The IRS Issued You A Summons...Now What? International Business Times (October 15, 2019).

    IRS Issues New Guidance On Virtual Currency, Forbes.com (October 9, 2019).

    IRS Audit Period Is 3 Years, 6 Years Or Forever: How To Cut Your Risk, Forbes.com (October 8, 2019).

    With Chrisley Criminal Tax Charges, Prosecutors May Know Best, Forbes.com (October 3, 2019).

    Beware Non-Cash Items IRS Says You Must Report On Your Taxes, International Business Times (October 5, 2019).

    US Tax Tips: How Long IRS Can Audit, And How To Shorten It, International Business Times (September 30, 2019).

    CA Gov. Newsom Signs Law, Makes Gig Workers Employees, Forbes.com (September 19, 2019).

    Comparing Like-Kind Exchanges With Involuntary Conversions, by Robert W. Wood and Andrew J. Greiner, Vol. 164, No. 11, Tax Notes Federal (September 9, 2019), p. 1785. Simultaneously published in Vol. 93, No. 11, Tax Notes State (September 9, 2019), p. 1085.

    Move To Puerto Rico, Slash Your Taxes To Zero? Not Exactly, Forbes.com (September 9, 2019).

    Chrisley Knows Best Tax Lessons, Forbes.com (September 3, 2019).

    John Doe Summons Risk Underscores Need for Attorney-Client Privilege, by Robert W. Wood and Joshua G. Smeltzer, Vol. 164, No. 10, Tax Notes Federal (September 2, 2019), p. 1607.

    IRS Expands Penalties: Which Tax Mistakes Are Better Not to Commit, Cointelegraph (September 2, 2019).

    IRS Is Pushing Willful Foreign Account Penalties, Be Careful, by Robert W. Wood and Joshua D. Smeltzer, Global Assets (Summer 2019).

    Here's A $10M Tax Question: C or S Corporation?, Forbes.com (August 29, 2019).

    Should You Listen to Tax Advice From Nontax Advisers?, Vol. 164, No. 9, Tax Notes Federal (August 26, 2019), p. 1427.

    Serve On Nonprofit Board, Face Tax Liability?, Forbes.com (August 22, 2019).

    IRS Says Some Business Expenses Are Personal, Forbes.com (August 19, 2019).

    IRS Crypto Reporting Letter: A Wake-Up Call No Matter Who Gets One, Cointelegraph (August 16, 2019).

    Will IRS Approve Your Taxes In Advance? Sometimes, Yes, Forbes.com (August 5, 2019).

    1031 Exchanges Save IRS & State Taxes, Even Leaving California, Forbes.com (August 1, 2019).

    10,000 IRS Letters Hunt Crypto Use: Even If You Don’t Receive One, Here's What To Do, Forbes.com (July 27, 2019).

    Prime Minister Boris Johnson, Tax Protester, Forbes.com (July 24, 2019).

    How IRS Taxes Fire Victims, Forbes.com (July 20, 2019).

    Victims of California Wildfires Have Complex Tax Issues to Consider, Los Angeles Daily Journal (July 17, 2019), p. 4. Simultaneously published in San Francisco Daily Journal (July 17, 2019), p. 4.

    Warren Buffett Gives $3.6 Billion To Charity, How To Supersize Your Donations Too, Forbes.com (July 9, 2019).

    What the IRS Says Is ‘Willful’ Keeps Expanding, by Robert W. Wood and Joshua D. Smeltzer, Vol. 164, No. 2, Tax Notes Federal (July 8, 2019), p. 217.

    Avoid State Taxes on Crypto With US Supreme Court’s Recent Trust Decision?, Cointelegraph (July 6, 2019).

    Cutting California Taxes Armed With Supreme Court’s Trust Ruling?, Los Angeles Daily Journal (June 28, 2019), p. 7. Simultaneously published in San Francisco Daily Journal (June 28, 2019), p. 7.

    Avoid California & Other State Taxes With Supreme Court Trust Ruling?, Forbes.com (June 24, 2019).

    Bitcoin Prices Could Make Paying Taxes in Bitcoin Even More Attractive, Cointelegraph (June 23, 2019).

    Uber Tax Audit By IRS & Abroad Is Big, But Not Over Driver Employment Taxes, Forbes.com (June 5, 2019).

    IRS Slaps 100% Penalty On All 'Responsible' For Company Taxes, Forbes.com (May 22, 2019).

    IRS Revamps Offshore Account Policy With Bigger Penalties, Global Assets (Spring 2019).

    Trump's Billion In Tax Losses And IRS Statute Of Limitations, Forbes.com (May 9, 2019).

    Why Trump Should Not Hand Over His Tax Returns, Forbes.com (May 4, 2019).

    For 'Jeopardy!' Big Winner, IRS Wins Big Taxes Too, Forbes.com (April 18, 2019).

    Tax Lawyer: Trump Should Keep Tax Returns Private, USA Today (April 15, 2019).

    April 15 Tax Day Is Key Offshore Account Deadline Too, Forbes.com (April 11, 2019).

    Meghan Markle, Prince Harry Baby Needs Tax Planning ... Already, Forbes.com (April 9, 2019).

    Senators Ask IRS to Weigh in on College Admissions Scandal, Los Angeles Daily Journal (April 9, 2019), p. 8. Simultaneously published in San Francisco Daily Journal (April 9, 2019), p. 8.

    As April 15 Tax Deadline Looms, Extensions Are Better, Los Angeles Daily Journal (April 8, 2019), p. 6. Simultaneously published in San Francisco Daily Journal (April 8, 2019), p. 6.

    Tax Hits College Admissions Scandal, IRS On Notice, Forbes.com (April 5, 2019).

    Reasons Not To File Taxes April 15, Extend Instead (Hint, Reduce Audit Risk Is One), Forbes.com (April 4, 2019).

    Keep IRS From Taking Your Passport, Here's How, Forbes.com (March 18, 2019).

    Protect Your Passport From the IRS, Los Angeles Daily Journal (March 15, 2019), p. 3. Simultaneously published in San Francisco Daily Journal (March 15, 2019), p. 3.

    Tax Pointers From Manafort To Avoid IRS And Jail, Forbes.com (March 11, 2019).

    Losing Your Passport to Internal Revenue Service is Now Possible, Los Angeles Daily Journal (March 11, 2019), p. 6. Simultaneously published in San Francisco Daily Journal (March 11, 2019), p. 6.

    Selling a Business Triggers Taxes for Owners, Company or Both, Los Angeles Daily Journal (March 5, 2019), p. 8. Simultaneously published in San Francisco Daily Journal (March 5, 2019), p. 8.

    FATCA Letters About Your Foreign Accounts?, Global Assets (March 2019).

    Want To Travel? IRS Warns U.S. Passports In Jeopardy If You Owe $52K In Taxes, Forbes.com (February 27, 2019).

    Oscars $100K Free Gifts Trigger IRS Tax Bill, Forbes.com (February 23, 2019).

    Amending Your Taxes? Be Careful With IRS, Forbes.com (February 13, 2019).

    Tax On Business Sale? Company, Owners Or Both May Pay IRS, Forbes.com (February 11, 2019).

    Trying To Trick IRS During Audit Can Mean Criminal Tax Charges, Forbes.com (February 7, 2019).

    Your Form 1099 Reports Too Much To IRS, Can You Sue?, Forbes.com (February 6, 2019).

    IRS Says Loans Aren't Taxed, But Audits When Loans Are Income, Forbes.com (February 5, 2019).

    10 Tax Commandments To Avoid Trouble With The IRS, Forbes.com (January 30, 2019).

    Missing An IRS Form 1099? Don't Ask For It, Here's Why, Forbes.com (January 28, 2019).

    Deals, Kill Fees, and Taxes, by Robert W. Wood and Donald P. Board, Vol. 162, No. 4, Tax Notes (January 28, 2019), p. 413.

    IRS Forms 1099 Are Coming: Pay Attention To What You Receive, Forbes.com (January 23, 2019).

    IRS Has 4,500 Guns, 5 Million Rounds Ammunition: Paying Taxes?, Forbes.com (January 14, 2019).

    IRS Forms 1099 Come Soon: Taxing Investors, Sharing Economy & Everyone Else, Forbes.com (January 7, 2019).

    IRS Can Impose a 100 Percent Penalty on Employment Taxes, Los Angeles Daily Journal (January 8, 2019), p. 10. Simultaneously published in San Francisco Daily Journal (January 8, 2019), p. 10.

    Back to Basis: Small Tax Mistakes Can Mean Big Taxes, by Robert W. Wood and Donald P. Board, Vol. 162, No. 1, Tax Notes (January 7, 2019), p. 75.

     

     

     

    TAX COLUMNS IN FORBES

     

    Now, California Can Assess Taxes No Matter Where You Live...Really, Forbes.com (October 22, 2019).

    IRS Issues New Guidance On Virtual Currency, Forbes.com (October 9, 2019).

    IRS Audit Period Is 3 Years, 6 Years Or Forever: How To Cut Your Risk, Forbes.com (October 8, 2019).

    With Chrisley Criminal Tax Charges, Prosecutors May Know Best, Forbes.com (October 3, 2019).

    CA Gov. Newsom Signs Law, Makes Gig Workers Employees, Forbes.com (September 19, 2019).

    Big Opioid Settlements, Big Tax Write Offs. Any Questions?, Forbes.com (September 14, 2019).

    It’s Not Just Uber, California Bill Could Transform Tricky Tax And Legal Rules On Independent Contractors, Forbes.com (September 12, 2019).

    Despite Sweeping California Gig Worker Law, Uber Says It Won’t Treat Drivers As Employees, Forbes.com (September 11, 2019).

    Move To Puerto Rico, Slash Your Taxes To Zero? Not Exactly, Forbes.com (September 9, 2019).

    Chrisley Knows Best Tax Lessons, Forbes.com (September 3, 2019).

    Here's A $10M Tax Question: C or S Corporation?, Forbes.com (August 29, 2019).

    Serve On Nonprofit Board, Face Tax Liability?, Forbes.com (August 22, 2019).

    IRS Says Some Business Expenses Are Personal, Forbes.com (August 19, 2019).

    Will IRS Approve Your Taxes In Advance? Sometimes, Yes, Forbes.com (August 5, 2019).

    1031 Exchanges Save IRS & State Taxes, Even Leaving California, Forbes.com (August 1, 2019).

    10,000 IRS Letters Hunt Crypto Use: Even If You Don’t Receive One, Here's What To Do, Forbes.com (July 27, 2019).

    Prime Minister Boris Johnson, Tax Protester, Forbes.com (July 24, 2019).

    Equifax $650M Data Breach Settlement Could Bring Tax Deduction, Forbes.com (July 22, 2019).

    How IRS Taxes Fire Victims, Forbes.com (July 20, 2019).

    Warren Buffett Gives $3.6 Billion To Charity, How To Supersize Your Donations Too, Forbes.com (July 9, 2019).

    Five Key IRS Rules On How Lawsuit Settlements Are Taxed, Forbes.com (July 1, 2019).

    How Lawsuit Structured Settlements Work, Forbes.com (June 26, 2019).

    Wrongful Life And Wrongful Birth Damages, Taxable or Tax-Free?, Forbes.com (June 25, 2019).

    Avoid California & Other State Taxes With Supreme Court Trust Ruling?, Forbes.com (June 24, 2019).

    Litigation Finance Transactions Face Taxes, So Be Careful, Forbes.com (June 18, 2019).

    Uber Tax Audit By IRS & Abroad Is Big, But Not Over Driver Employment Taxes, Forbes.com (June 5, 2019).

    IRS Slaps 100% Penalty On All 'Responsible' For Company Taxes, Forbes.com (May 22, 2019).

    Taxes Slash $2 Billion Roundup Weedkiller Verdict To $27.5 Million, Forbes.com (May 14, 2019).

    Trump's Billion In Tax Losses And IRS Statute Of Limitations, Forbes.com (May 9, 2019).

    Can You Claim Higher Tax Bills As Lawsuit Damages?, Forbes.com (May 8, 2019).

    Why Trump Should Not Hand Over His Tax Returns, Forbes.com (May 4, 2019).

    For 'Jeopardy!' Big Winner, IRS Wins Big Taxes Too, Forbes.com (April 18, 2019).

    Keep IRS From Taking Your Passport, Here's How, Forbes.com (March 18, 2019).

    Tax Pointers From Manafort To Avoid IRS And Jail, Forbes.com (March 11, 2019).

    IRS Gives Tax Break To Sexual Harassment Victims, Forbes.com (March 4, 2019).

    Want To Travel? IRS Warns U.S. Passports In Jeopardy If You Owe $52K In Taxes, Forbes.com (February 27, 2019).

    Oscars $100K Free Gifts Trigger IRS Tax Bill, Forbes.com (February 23, 2019).

    Jussie Smollett Faces Legal Bills, But Can He Write Them Off His Taxes?, Forbes.com (February 22, 2019).

    IRS Taxes Colin Kaepernick's NFL Settlement, Here's Why, Forbes.com (February 19, 2019).

    Amending Your Taxes? Be Careful With IRS, Forbes.com (February 13, 2019).

    Tax On Business Sale? Company, Owners Or Both May Pay IRS, Forbes.com (February 11, 2019).

    Trying To Trick IRS During Audit Can Mean Criminal Tax Charges, Forbes.com (February 7, 2019).

    Your Form 1099 Reports Too Much To IRS, Can You Sue?, Forbes.com (February 6, 2019).

    IRS Says Loans Aren't Taxed, But Audits When Loans Are Income, Forbes.com (February 5, 2019).

    10 Tax Commandments To Avoid Trouble With The IRS, Forbes.com (January 30, 2019).

    Missing An IRS Form 1099? Don't Ask For It, Here's Why, Forbes.com (January 28, 2019).

    IRS Forms 1099 Are Coming: Pay Attention To What You Receive, Forbes.com (January 23, 2019).

    IRS Has 4,500 Guns, 5 Million Rounds Ammunition: Paying Taxes?, Forbes.com (January 14, 2019).

    IRS Forms 1099 Come Soon: Taxing Investors, Sharing Economy & Everyone Else, Forbes.com (January 7, 2019).

     

     

     

    TAX COLUMNS IN DAILY JOURNAL

     

    Victims of California Wildfires Have Complex Tax Issues to Consider, Los Angeles Daily Journal (July 17, 2019), p. 4. Simultaneously published in San Francisco Daily Journal (July 17, 2019), p. 4.

    Settlements and Taxes: 5 IRS Rules to Remember, Daily Journal Verdicts & Settlements (July 5, 2019), p. 4.

    Cutting California Taxes Armed With Supreme Court’s Trust Ruling?, Los Angeles Daily Journal (June 28, 2019), p. 7. Simultaneously published in San Francisco Daily Journal (June 28, 2019), p. 7.

    Are Damages in Wrongful Life and Wrongful Birth Cases Taxable?, Los Angeles Daily Journal (June 27, 2019), p. 6. Simultaneously published in San Francisco Daily Journal (June 27, 2019), p. 6.

    When it Comes to Litigation Funding, Don’t Forget About Tax Implications, Los Angeles Daily Journal (May 29, 2019), p. 5. Simultaneously published in San Francisco Daily Journal (May 29, 2019), p. 5.

    Senators Ask IRS to Weigh in on College Admissions Scandal, Los Angeles Daily Journal (April 9, 2019), p. 8. Simultaneously published in San Francisco Daily Journal (April 9, 2019), p. 8.

    As April 15 Tax Deadline Looms, Extensions Are Better, Los Angeles Daily Journal (April 8, 2019), p. 6. Simultaneously published in San Francisco Daily Journal (April 8, 2019), p. 6.

    New Tax Rules Could Swallow Up Much of the Monsanto Verdict, Los Angeles Daily Journal (April 1, 2019), p. 6. Simultaneously published in San Francisco Daily Journal (April 1, 2019), p. 6.

    Protect Your Passport From the IRS, Los Angeles Daily Journal (March 15, 2019), p. 3. Simultaneously published in San Francisco Daily Journal (March 15, 2019), p. 3.

    Losing Your Passport to Internal Revenue Service is Now Possible, Los Angeles Daily Journal (March 11, 2019), p. 6. Simultaneously published in San Francisco Daily Journal (March 11, 2019), p. 6.

    Selling a Business Triggers Taxes for Owners, Company or Both, Los Angeles Daily Journal (March 5, 2019), p. 8. Simultaneously published in San Francisco Daily Journal (March 5, 2019), p. 8.

    Uncle Sam Scores in the NFL’s Settlement With Kaepernick, Too, Los Angeles Daily Journal (February 25, 2019), p. 7. Simultaneously published in San Francisco Daily Journal (February 25, 2019), p. 7.

    Court OKs Award To Neutralize Tax Liabilities On Lump-Sum Payment, Los Angeles Daily Journal (February 20, 2019), p. 5. Simultaneously published in San Francisco Daily Journal (February 20, 2019), p. 5.

    Will Your Independent Contractors Be Relabeled, And By Whom?, Los Angeles Daily Journal (February 19, 2019), p. 8. Simultaneously published in San Francisco Daily Journal (February 19, 2019), p. 8.

    IRS Can Impose a 100 Percent Penalty on Employment Taxes, Los Angeles Daily Journal (January 8, 2019), p. 10. Simultaneously published in San Francisco Daily Journal (January 8, 2019), p. 10.

     

     

     

    TAX COLUMNS IN COINTELEGRAPH

     

    IRS Expands Penalties: Which Tax Mistakes Are Better Not to Commit, Cointelegraph (September 2, 2019).

    IRS Crypto Reporting Letter: A Wake-Up Call No Matter Who Gets One, Cointelegraph (August 16, 2019).

    Avoid State Taxes on Crypto With US Supreme Court’s Recent Trust Decision?, Cointelegraph (July 6, 2019).

    Bitcoin Prices Could Make Paying Taxes in Bitcoin Even More Attractive, Cointelegraph (June 23, 2019).

     

     

     

    TAX COLUMNS IN INTERNATIONAL BUSINESS TIMES

     

    IRS Hunts Crypto, Hard Forks, Tax Returns And More, International Business Times (October 16, 2019).

    The IRS Issued You A Summons...Now What? International Business Times (October 15, 2019).

    Beware Non-Cash Items IRS Says You Must Report On Your Taxes, International Business Times (October 5, 2019).

    US Tax Tips: How Long IRS Can Audit, And How To Shorten It, International Business Times (September 30, 2019).

    New Law Says Independent Contractors Are Employees: What It Means For Business, International Business Times (September 21, 2019).

    Settling Lawsuits Or Disputes Usually Means Paying Taxes, International Business Times (September 19, 2019).