Legal Question in Civil Litigation in California

What are the tax consequences of accepting a CCP 998 offer;ie, can excessive legal fees be used to eliminate the taxability of the settlement?


Asked on 1/18/11, 9:42 pm

1 Answer from Attorneys
Isi Mataele 'Isi Mataele Attorney at Law

You are liable for any amount awarded to you directly for damages. Attorney fees unless specified are not considered compensation for tax purposes.

Read more
Answered on 1/23/11, 9:57 pm


Related Questions & Answers

More General Civil Litigation questions and answers in California