FROMTHE EXPERTS
FROMTHE EXPERTS
“ The double tax hits plaintiffs bringing many types of claims, including those for emotional distress in the absence of physical injuries, bad faith denials of insurance coverage, and defamation. It also hits plaintiffs in many sexual abuse cases and other physical injury cases with taxable proceeds, including punitive damages and post-judgment interest.”
BIG BEAUTIFUL BILL MAKES THE PLAINTIFF DOUBLE TAX PERMANENT
By Jeremy Babener, Tax lawyer to plaintiffs and trial lawyers
Earlier this year President Trump signed into law the One Big Beautiful Bill Act, making permanent many temporary tax changes from the Tax Cuts & Jobs Act.
The One Big Beautiful Bill Act(“ BBB”) made permanent several temporary provisions of the Tax Cuts and Jobs Act of 2017(“ TCJA”), while also introducing changes to numerous items related to individual income tax. Several provisions in the BBB affect personal injury plaintiffs and plaintiff firms.
12 The Trial Lawyer