You won a lawsuit award or settlement. Congratulations!
Be careful. In certain cases, Uncle Sam wants his cut of your award or settlement.
Luckily, there is a little-known tax-deduction rule that you can use to reduce your tax bill by thousands of dollars, enabling you to keep more of the money you won in the lawsuit.
In this article, we tell you when you can put this generous tax deduction to work for you and how to apply its beneficial treatment on your tax return. ... Log in to view full article.