Tax Initiative
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Webinars
• Fixing the Attorney Tax Fee Problem: Practical, Litigation, and Legislative Strategies
• Tax Implications of Attorney Fees in Consumer Cases
• 1099s and Attorneys' Fees
• Trees and Fruit: How Fee Agreements May Change the Taxation of Attorney’s Fees
• NACA Tax Update 2019
Why These Videos Are Helpful
Under our current understanding of tax law, attorney fees may be taxable income for your clients. Understanding why this is the case, how the 2017 tax law has exacerbated this issue and how we can attempt to solve this problem – including how to structure your retainer agreements, is covered in these webinars. All legal aid and private consumer lawyers need to understand the potential impact of tax law on their clients.
What You Will Learn
• Why and how attorney fees in consumer cases are being treated as income for your clients
• How you can potentially minimize financial harm to your clients
• What are some avenues for addressing 1099s that are incorrect or erroneously issued
• How NACA’s Tax Initiative is addressing the issue through litigation and legislation.
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Contains 1 Component(s)
It’s that time of year again: Come and watch the question and answer session with NACA’s Executive Director, Ira Rheingold.
As another tax season begins, more and more consumer clients are receiving 1099s for income they did not receive (your attorney fees). During the Q and A Session, Ira will discuss how to handle this issue with your consumer clients and the steps you and they can take before, during, and after litigation to minimize and mitigate the potential tax risk they might face.
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Contains 2 Component(s) Recorded On: 12/09/2020
Learn how to use the study to better your marketing to potential clients and to communicate with future juries
In fall 2020, NACA commissioned a survey about the public’s understanding of consumer protection law and the ability of consumers to obtain affordable legal help. The results of that research should not only help pass our Congressional tax legislation but also assist us in our effort to update and improve federal consumer protection statutes. It can also provide consumer attorneys with information that should help in better marketing to potential clients and better ways to communicate with future juries.
What You Will Learn• How the public misunderstands their ability to afford a consumer attorney
• How to harness the enormous bipartisan support for keeping and improving consumer’s affordable access to courts
• How to talk to potential clients, juries, and legislators about the work we do
• What you can do to finally help change the tax law of consumer attorney legal fees.
Ira Rheingold
Executive Director
National Association of Consumer Advocates
Ira Rheingold is the executive director of the National Association of Consumer Advocates (NACA). At NACA, Ira has testified before both Houses of Congress, offered commentary before federal and state regulatory agencies, and helped draft amicus briefs before the nation’s highest courts. Ira created and managed the Institute for Foreclosure Legal Assistance. Currently, Ira serves as co-chair of the Financial Services Committee of the Trans-Atlantic Consumer Dialogue (TACD). Previously, Ira worked at the Legal Assistance Foundation of Chicago where he ran its Foreclosure Prevention and Senior Housing Projects. He is a graduate of Georgetown University Law Center.
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Contains 3 Component(s), Includes Credits Recorded On: 03/21/2019
This webinar will update you on NACA's continuing effort to challenge the IRS’ current determination that attorneys’ fees in consumer cases are taxable to your clients.
This webinar will update you on NACA’s continuing effort to challenge the IRS’ current determination that attorneys’ fees in consumer cases are taxable to your clients.
What You Will Learn• What needs to happen to change the IRS’ wrongheaded policy, relating to both litigation and proposed legislation
• What our recommended best practices and strategies are to prevent your consumer client from having any tax liability for your attorney feesIra Rheingold
Executive Director
National Association of Consumer Advocates
Ira Rheingold is the executive director of the National Association of Consumer Advocates (NACA). At NACA, Ira has testified before both Houses of Congress, offered commentary before federal and state regulatory agencies, and helped draft amicus briefs before the nation’s highest courts. Ira created and managed the Institute for Foreclosure Legal Assistance. Currently, Ira serves as co-chair of the Financial Services Committee of the Trans-Atlantic Consumer Dialogue (TACD). Previously, Ira worked at the Legal Assistance Foundation of Chicago where he ran its Foreclosure Prevention and Senior Housing Projects. He is a graduate of Georgetown University Law Center.
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Contains 3 Component(s), Includes Credits Recorded On: 02/16/2018
The recently passed federal tax law may have significant consequences for all consumer lawyers and their clients.
The recently passed federal tax law may have significant consequences for all consumer lawyers and their clients. All legal aid and private consumer lawyers need to understand the potential impact of this new tax law.
What You Will Learn
* Why and how attorney fees in consumer cases are being treated as income for your clients
* How you can potentially minimize financial harm to your clients
* What NACA's litigation and legislative strategies are underway to change the law
Ayalon Eliach
Ayalon Eliach has been working on the NACA Tax Initiative since 2014. Prior to that, he practiced tax law at Roberts & Holland LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York City. He holds a JD, cum laude, from Harvard Law School and a BA, summa cum laude, from Yale University. His views on tax law have appeared in various publications, including the New York Times and the NYU Review of Law & Social Change.
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Contains 3 Component(s), Includes Credits Recorded On: 02/18/2015
In this session, you will have the opportunity to have your own questions about 1099s answered and to learn from issues other NACA members are facing regarding these forms.
It's tax season and by now you and your clients should have received 1099s for settlements and judgments from last year. These forms are often misunderstood and raise many questions, especially regarding their implications for the taxation of attorneys' fees. In this session, you will have the opportunity to have your own questions about 1099s answered and to learn from issues other NACA members are facing regarding these forms.
What You Will Learn• What are the difference between tax reporting and tax liability
• What are the avenues for addressing 1099s that are incorrect or erroneously issued
• What are the implications of the NACA Tax Initiative's current strategy for 1099sAyalon Eliach
Ayalon Eliach has been working on the NACA Tax Initiative since 2014. Prior to that, he practiced tax law at Roberts & Holland LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York City. He holds a JD, cum laude, from Harvard Law School and a BA, summa cum laude, from Yale University. His views on tax law have appeared in various publications, including the New York Times and the NYU Review of Law & Social Change.
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Contains 3 Component(s), Includes Credits Recorded On: 12/10/2014
How you may be able to address clients’ tax liabilities using a draft of model language for fee agreements
The structure of fee agreements plays a significant role in the taxation of attorneys' fees. The Supreme Court has held that traditional contingency fee agreements constitute impermissible assignments of taxable income ("fruit") from clients to their attorneys. The NACA Tax Initiative, however, has been exploring an as-of-yet untested theory that a nontraditional structure for fee agreements—transfer of the income-generating asset ("tree") rather than the income itself ("fruit")—may eliminate clients' tax liabilities on attorneys' fees paid under fee-shifting statutes.
What You Will Learn* How to understand this nontraditional structure for fee agreements
* How you may be able to address clients’ tax liabilities using a draft of model language for fee agreements
* What NACA’s Tax Initiative is doing next to test the new fee agreementAyalon Eliach
Ayalon Eliach has been working on the NACA Tax Initiative since 2014. Prior to that, he practiced tax law at Roberts & Holland LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York City. He holds a JD, cum laude, from Harvard Law School and a BA, summa cum laude, from Yale University. His views on tax law have appeared in various publications, including the New York Times and the NYU Review of Law & Social Change.
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Contains 3 Component(s), Includes Credits Recorded On: 08/12/2014
Benjamin Franklin quipped that “nothing can be certain, except death and taxes.” It is surprising, however, that your clients are taxed on the attorney’s fees that you earn while representing them. This webinar will explain why this is the case by looking at attorney’s fees through the lens of tax law.
Benjamin Franklin quipped that “nothing can be certain, except death and taxes.” It is surprising, however, that your clients are taxed on the attorney’s fees that you earn while representing them. This webinar will explain why this is the case by looking at attorney’s fees through the lens of tax law.
What You Will Learn* Explain to your clients why they are currently taxed on your fees
* Understand why the IRS cares about this issue
* Advocate as part of NACA’s Tax Initiative effort to change the current tax treatment of attorney’s feesAyalon Eliach
Ayalon Eliach has been working on the NACA Tax Initiative since 2014. Prior to that, he practiced tax law at Roberts & Holland LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York City. He holds a JD, cum laude, from Harvard Law School and a BA, summa cum laude, from Yale University. His views on tax law have appeared in various publications, including the New York Times and the NYU Review of Law & Social Change.
