- Membership
- Certification
- Events
- Community
- About
- Help
Reporting of interest paid on a legal settlement
September 22, 2023
Q. A judgment was entered in favor of the Plaintiff against the Defendant in the amount of $1000. The judgment went unpaid for a considerable amount of time. Subsequently, the parties entered into a settlement agreement, the Defendant agreeing to pay the Plaintiff the amount of the original judgment ($1,000) plus accrued interest ($500). The interest was calculated based on the statutory rate in the applicable state. There are no circumstances that qualify this settlement to be treated as…
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?
