Tax Lawyer Rob Wood Discusses Tax Treatment of Litigation Recoveries

Rob Wood joins us to discuss his recent article in Tax Notes on the tax treatment of litigation recoveries.
In this case a settlement payment from Pizza Hut to a sausage supplier in the neighborhood of $15 million dollars for misappropriation of a trade secret.

The tax treatment of the settlement further highlights the need for expert tax consultation beforehand to avoid problems.

Rob wood is the host of the Tax Law Channel.  He is partner at Wood and Porter in San Francisco. This edition brought to you by ATG Trust.