2021 Articles

    TOPICS:

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

     

     

    TAXATION OF DAMAGE AWARDS

     

    Revisiting Structured Legal Fees: Where Are We Now?, Vol. 171, No. 4, Tax Notes Federal (April 26, 2021), p. 595.

    Legal Settlement Tax Worries (Revisited), Vol. 171, No. 3, Tax Notes Federal (April 19, 2021), p. 443.

    Using 'Reasonable Cause' to Avoid IRS Penalties, Washington State Bar News (April/May 2021).

    Taxing Emotional Distress Damages: Now What? Settlement Wording!, Robert W. Wood, Vol. 171, No. 1, Tax Notes Federal (April 5, 2021), p. 81, simultaneously published in Vol. 100, No. 1, Tax Notes State (April 5, 2021), p. 67.

    Which Property Qualifies for Involuntary Conversion Tax Relief?, Vol. 170, No. 8, Tax Notes Federal (February 22, 2021), p. 1261.

    IRS Taxes Legal Settlements, But Some Are Capital Gain, Forbes.com (February 16, 2021).

    Legal Malpractice Settlement Tax Worries, Vol. 170, No. 6, Tax Notes Federal (February 8, 2021), p. 963.

    Is Borrowing From Qualified Settllement Funds Taxable, Robert W. Wood and Donald Board, Vol. 170, No. 4, Tax Notes Federal (January 25, 2021), p. 963.

    Does IRS Tax Legal Malpractice Settlements?, Forbes.com (January 19, 2021).

    Patent Infringement Damages Taxed As Capital Gain With IRS?, Forbes.com (January 11, 2021).

     

     

     

    INDEPENDENT CONTRACTOR STATUS

     

     

     

     

    MISCELLANEOUS

     

    Using Prepaid Forward Contracts For Stock and Legal Funding, Vol. 171, No. 8, Tax Notes Federal (May 24, 2021), p. 1247.

    Your IRS Form 1099 Is Late, But Do You Really Need It For Your Taxes?, Forbes.com (February 4, 2021).

    IRS Forms 1099 Good, Bad & Ugly For Your Taxes, Forbes.com (February 1, 2021).

    IRS Agent Stole Identity, Forged Papers, Wire Fraud, Feds Claim, Forbes.com (January 31, 2021).

    Youíre Asked For An IRS Form W-9, What Should You Say?, Forbes.com (January 27, 2021).

    Itís IRS 1099 Time, Beware New Gig Form 1099-NEC, Forbes.com (January 25, 2021).

    Win $1 Billion Mega Millions Lottery Jackpot, Pay Mega Taxes, Forbes.com (January 22, 2021).

    Checking Boxes and Checking Your Forms: Why Understanding IRS Form 1099 is Key for Lawyers and Clients, American Bar Association, Winter 2021.

    Does IRS Tax Legal Malpractice Settlements?, Forbes.com (January 19, 2021).

     

     

     

    TAX COLUMNS IN FORBES

     

    Cheat On Your Taxes, Get IRS Penalties; Obstruct IRS, Get Jail, Forbes.com (June 14, 2021).

    Biden Retroactively Doubles Capital Gain Tax But Keeps $10M Benefit, Forbes.com (June 7, 2021).

    IRS Crypto Tax Risks Expand With New Reporting, Forbes.com (May 31, 2021).

    Money Now, Taxes Later With Prepaid Forward Contracts, Forbes.com (May 29, 2021).

    Colonial Pipeline Paid $4.4 Million In Bitcoin Ransom. Is It Tax Deductible?, Forbes.com (May 20, 2021).

    Taxes Are Due May 17, Four Reasons To Extend To October 15, Forbes.com (May 10, 2021).

    California Proposes 16.8% Tax Rate & Wealth Tax...Again, Time To Move?, Forbes.com (May 1, 2021).

    Oscar Celebs Get Free Gifts Worth $205K, Pay 50% Tax, Forbes.com (April 25, 2021).

    Tax Rules Your Lawyer Might Not Know, Forbes.com (April 19, 2021).

    Bill To End Double Tax On Consumer Lawsuits Introduced In Senate, Forbes.com (April 19, 2021).

    Lawsuit Tax Hinges On Settlement Wording And IRS Form 1099, Forbes.com (April 13, 2021).

    Sobering IRS Warnings On Tax Crimes Before Filing Your Taxes, Forbes.com (April 9, 2021).

    Cancelled Loans? Careful, IRS May Say Its Taxable, Forbes.com (April 1, 2021).

    IRS Gets Court Approval For Cryptocurrency Summons For Circle, Poloniex Customers, Forbes.com (April 1, 2021).

    IRS Extends Tax Return Due Date From April 15 To May 17, Forbes.com (March 17, 2021).

    IRS Tax Returns Are (Now) Due May 17, But Extensions May Reduce Audit Risk, Forbes.com (March 16, 2021).

    How IRS Taxes Lawsuit Settlements, Sometimes Twice, Forbes.com (March 15, 2021).

    Tax Tips From Cooperating Witness In Record $2B Tax Evasion Case, Forbes.com (March 8, 2021).

    Client Sues CPA For Extra Tax Bill, CPA Settles, IRS Taxes Client On Settlement, Repeat, Forbes.com (February 23, 2021).

    IRS Taxes Legal Settlements, But Some Are Capital Gain, Forbes.com (February 16, 2021).

    Renouncing American Citizenship Hits All-Time Record, Forbes.com (February 7, 2021).

    Your IRS Form 1099 Is Late, But Do You Really Need It For Your Taxes?, Forbes.com (February 4, 2021).

    IRS Forms 1099 Good, Bad & Ugly For Your Taxes, Forbes.com (February 1, 2021).

    IRS Agent Stole Identity, Forged Papers, Wire Fraud, Feds Claim, Forbes.com (January 31, 2021).

    Youíre Asked For An IRS Form W-9, What Should You Say?, Forbes.com (January 27, 2021).

    Itís IRS 1099 Time, Beware New Gig Form 1099-NEC, Forbes.com (January 25, 2021).

    Win $1 Billion Mega Millions Lottery Jackpot, Pay Mega Taxes, Forbes.com (January 22, 2021).

    Does IRS Tax Legal Malpractice Settlements?, Forbes.com (January 19, 2021).

    Patent Infringement Damages Taxed As Capital Gain With IRS?, Forbes.com (January 11, 2021).

     

     

     

    TAX COLUMNS IN DAILY JOURNAL

     

    Navigating lemon law and consumer settlement tax issues, San Francisco Daily Journal (March 31, 2021), p. 5.

    Guidance for navigating legal settlements, legal fees and estimated taxes, San Francisco Daily Journal (March 8, 2021), p. 7.

    Independent contractors puzzle over new IRS Form 1099-NEC, San Francisco Daily Journal (February 22, 2021), p. 7.

    Tax rules that every lawyer in California should know, San Francisco Daily Journal (February 4, 2021), p. 5.

    Capital gains in patent cases: When is a recovery not taxed as ordinary income?, San Francisco Daily Journal (January 26, 2021), p. 5.

    The ins and outs of taxing legal malpractice settlements, San Francisco Daily Journal (January 4, 2021), p. 4.

     

     

     

    TAX COLUMNS IN COINTELEGRAPH

     

    More IRS crypto reporting, more danger, Cointelegraph (Jun 11, 2021).

    More IRS summonses for crypto exchange account holders, Cointelegraph (Apr 18, 2021).

     

     

     

    TAX COLUMNS IN INTERNATIONAL BUSINESS TIMES

     

    Tax Season 2021: How To Avoid IRS Penalties, International Business Times (April 18, 2021).