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High Court ruling on attorney fees expected to have limited effect.

Publication: Trial
Publication Date: 01-APR-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
In an 8-0 decision in January, the U.S. Supreme Court held that when litigants' recovery constitutes income, they must report to the IRS the portion of the recovery paid to their attorney as a contingent fee. (Comm'r v. Banks, No. 03-10983, 2005 WL 124006 (U.S. Jan. 24, 2005).) Although the decision increases the tax burden on some plaintiffs, its reach is expected to be limited.

"The decision doesn't apply to personal injury suits or employment discrimination suits or most of what ATLA members do," said Jeffrey White, senior counsel for amicus curiae at the association, which filed an amicus brief in the case. But, he said, the...

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