Qualified settlement funds
include the designated settlement fund plus liabilities under tort, environmental, breach-of-contract, violation-of-law, and other claims as designated by the IRS.
The Administrator can be contacted by writing: Lynn Lincoln Sarko, Exxon Qualified Settlement Fund
The final regulations allow the Trust to be classified as a Qualified Settlement Fund
To date, the company has paid approximately $200 million into qualified settlement funds
pursuant to the terms of previously announced agreements.
July 12, 2011 /PRNewswire-USNewswire/ -- Due to the expansion of qualified settlement funds
regulations, dispute resolution mechanisms have grown exponentially and a new BNA Tax and Accounting Portfolio, Qualified Settlement Funds
and Section 468B, written by Robert Wood of Wood & Porter, considers all aspects of the QSF maintenance process and gives guidance through the complex policies.
lump-sum payout considerations, taxation issues, 468b qualified settlement funds
, and mass-tort settlement issues.
IRS guidance: In a series of letter rulings, (16) the Service ruled that contingent attorneys' fees paid from qualified settlement funds
, as defined by Sec.
pension plans and bankrupt estates) and (4) administrators of qualified settlement funds
468B dealing with qualified settlement funds
did not provide guidance for accounts and funds governed by Sec.