dvalleyjim
Well-Known Member
Are we not talking about two seperate pieces of litigation? One involving FedEx Freight and the other the proposed settlement involving California Ground contractors?AS for the ground settlement the guys who are to receive money will almost certainly be subject to backup tax withholding. If paid all in one year, the tax bite will be huge. About the only thing they can hope for is that the IRS or tax court will agree that the pay out should be based on and spread out over the years the law suit covered. I hope those guys out in California are perceptive enough to realize the tax implications are can get themselves set up in the most advantageous way possible. But no some will still take the money squander it on the next instant gratification never realizing for even a moment that it's taxable income and as a result come away in even worse shape than before.
No dude, we are dumb ground guys that ran our own business and paid taxes. We don't know all this stuff you know.