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Tax Notes Announces Regular Column – WoodCraft: New Column to Provide a Forum on Tax Aspects of Litigation and Other Issues

November 23, 2009

Tax Analysts' flagship publication, Tax Notes, the longtime industry standard for tax news, commentary, and analysis, introduced a new regular column today, WoodCraft, written by frequent contributor Rob Wood.

Wood, an expert and frequent commentator on litigation recoveries, will use his new column to target a broader audience by also addressing emerging uses of qualified settlement funds, independent contractor vs. employee controversies, the use of tax experts in litigation, and more. WoodCraft will present a practitioner's viewpoint, asking what went right, what went wrong, and what the taxpayer could have done better.

In his first article, Wood focuses on settlement allocations involving wages, addressing front pay, back pay, and more. The IRS is looking more closely at the wage vs. non-wage dichotomy, and Wood sifts through myths and examines incentives to payor, payee, and counsel. Practices vary enormously, and in Wood's opinion, many take needless risks. He also comments on a district court decision, Josifovich vs. Secure Computing Corporation, 2009 U.S.District Lexis 67092 (D.N.J. July 31, 2009), involving a post-settlement fight over the appropriateness of withholding.

Read the inaugural column in this week's Tax Notes or online at www.TaxAnalysts.org.

 

 

About the Author:

 

Based in San Francisco (www.woodporter.com), Robert W. Wood is a tax lawyer with a national practice. Although Wood is most closely associated with the taxation of litigation recoveries, he handles a wide array of tax matters. He is the author of more than 30 books, including Taxation of Damage Awards & Settlement Payments (4th ed. 2009), Legal Guide to Independent Contractor Status (4th ed. 2007), and Qualified Settlement Funds and Section 468B (2009), available at www.taxinstitute.com. Wood welcomes commentary and queries about columns or suggested topics. He can be reached at wood@woodporter.com.