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The Attorney Took Their Cut. Why Do You Owe Tax on It?

Imagine you sue a company over a mistake on your credit report. You win a settlement. Your lawyer takes their cut off the top, and you walk away with a small check for what feels like a big fight. Then a Form 1099 shows up, and it reports the entire settlement as your income—including the… Continue reading The Attorney Took Their Cut. Why Do You Owe Tax on It?

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