- Membership
- Certification
- Events
- Community
- About
- Help
Attorney payment with multiple plaintiffs
October 12, 2022
Q. Our company settled a lawsuit. We are paying three individuals and will be making one payment to the attorney for all three individuals. The attorney payment is a lump payment and does not identify how much per person. Would the attorney payment be divided by three and added to the individuals' payment amount for reporting purposes since it cannot be determined how much of the payment is for what person?
A.
(Answered by IOFM's third-party tax experts)
The first consideration would be whether…
Become A Member
Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!
Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.
What are you waiting for?
