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Ch.6: The Case File

in this section: Introduction | Ch.1: Issues | Ch.2: Taxability | Ch.3: Related Topics | Ch.4: Information | Ch.5: 3rd Party | Ch.6: The Case File | Ch.7: Examination | Ch.8: Penalties | Ch.9: Reporting | Ch.10: Case Synopsis | App A: Sample | App B: Letter | App C: Letter | App D: History

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Lawsuit Awards and Settlements: IRS Tax Law

With tax day fast approaching, Weitz & Luxenberg wants to ensure our clients have all the information they need to understand how to report their large settlements and lawsuit verdicts to the IRS. This information from the Internal Revenue Service does not consitute legal advice. We provide this document for informational purposes only. If you need help with your taxes, contact a tax attorney or an accountant. To file a personal injury lawsuit, click here.

Chapter 6, Building the Case File

An examination case file is set up for individual taxpayers when a determination is made on which lawsuits to pursue. The case file should include information needed to conduct the examination. Identifying the Taxpayer

There are usually three ways to secure the taxpayer's Social Security Number (SSN). If third party contacts were made, then the SSNs and addresses of these taxpayers will have been secured through these requests. Another method is to use Corporate Files on Line (CFOL) commands to obtain SSNs. If the examiner is still unable to get a SSN through these techniques, a more thorough review of the case file at the courthouse may reveal additional leads. The case file may have a SSN that was overlooked during the initial gathering of information or it may provide another address to use in the IDRS research. Information Necessary for the Examination Case File

Use CFOL commands to determine if the plaintiff filed a tax return and to obtain a copy of the return. Look at the copy of the return to determine if the lawsuit proceeds were included in income. If the plaintiff did not include the lawsuit proceeds in income, an examination should commence. Follow the usual procedures to start an examination. If no return was filed, follow delinquent return procedures.

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see also:

Ch.10: Case Synopsis IRS Tax Law: Lawsuit Awards and Settlements, how to report your compensation
IRS- Tax day help with your large settlements & verdicts - Chapter 10

Ch.1: Issues IRS Tax Law: Lawsuit Awards and Settlements, how to report your compensation
IRS- Help with your large settlements and lawsuit verdicts - Chapter 1

Tax Law IRS Tax Law: Lawsuit Awards and Settlements
IRS Information: Large settlements and lawsuit verdicts
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Case Description:
$53 million verdict — brake mechanic suffering from mesothelioma

$13.5 million verdict — one of the very first Vioxx trial cases

$15 million settlement — man wound up a paraplegic due to negligent hospital care

$37 million verdict — 2 asbestos lung cancer plaintiffs

$47 million verdict — boilermaker who died from mesothelioma

$2.6 million settlement — ill-fitting prosthesis caused decubitus ulcers

$75 million verdict — historic consolidated trial involving men who had worked at the Brooklyn Navy Yard in the 1940s and 1950s

$12.7 million verdict — iron worker who was injured due to unsafe working conditions

$8 million settlement — obstetrical malpractice resulted in neurological deficits

$64.65 million award — 4 asbestos plaintiffs

$17.5 million — consolidated trial of 5 mesothelioma victims


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