Common use of Allocation of Settlement Awards Between Wages and Non-Wages Clause in Contracts

Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Percent (50%) of each Settlement Award will be treated as wages and subject to normal payroll tax withholdings and payments, and these amounts shall be reported to the taxing authorities and the Settlement Class Members on IRS Forms W-2. Fifty Percent (50%) of each Settlement Award will be treated as non-wages (liquidated damages, enhancements, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC (marked “Other Income”) shall be issued to the taxing authorities and Eligible Settlement Class Members.

Appears in 3 contracts

Samples: Settlement Agreement, Settlement Agreement, Settlement Agreement

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Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Percent (50%) of each Settlement Award will be treated as wages and subject to normal payroll tax withholdings and payments, and these amounts shall be reported to the taxing authorities and the Settlement Class Members on IRS Forms W-2. Fifty Percent (50%) of each Settlement Award will be treated as non-wages (liquidated damagespenalties, enhancements, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC 1099 (marked “Other Income”) shall be issued to the taxing authorities and Eligible Settlement Class Members.

Appears in 3 contracts

Samples: Settlement Agreement, Settlement Agreement, Class Action Settlement Agreement

Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Forty Percent (5040%) of each Settlement Award will be treated as wages and subject to normal payroll tax withholdings and payments, and these amounts shall be reported to the taxing authorities and the Settlement Class Members on IRS Forms W-2. Fifty Sixty Percent (5060%) of each Settlement Award will be treated as non-wages (liquidated damagespenalties, enhancements, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC 1099 (marked “Other Income”) shall be issued to the taxing authorities and Eligible Settlement Class Members.

Appears in 2 contracts

Samples: Settlement Agreement, Settlement Agreement

Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Percent Forty percent (5040%) of each Settlement Award will be treated as wages and subject to normal payroll tax withholdings and payments, and these amounts shall be reported to the taxing authorities and the Settlement Class Members on IRS Forms W-2. Fifty Percent Sixty percent (5060%) of each Settlement Award will be treated as non-wages (liquidated damagespenalties, enhancements, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC 1099 (marked “Other Income”) shall be issued to the taxing authorities and Eligible Settlement Class Members.

Appears in 1 contract

Samples: Settlement Agreement

Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Percent (50%) of each gross individual Settlement Award will be treated as wages and subject to normal payroll tax withholdings and payments, and these amounts shall be reported to the taxing authorities and the Settlement Class Members on IRS Forms W-2. The remaining Fifty Percent (50%) of each individual Settlement Award will be treated as non-wages (liquidated damagespenalties, enhancements, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC 1099 (marked “Other Income”) shall be issued to the taxing authorities and Eligible Settlement Class Members.

Appears in 1 contract

Samples: Settlement Agreement

Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Percent (50%) of each Settlement Award will be treated as wages and subject to normal applicable federal, state, and local payroll tax withholdings and paymentstaxes, and these amounts shall be reported to the taxing authorities and the Settlement Class Members on IRS Forms W-2. Fifty Percent (50%) of each Settlement Award will be treated as non-wages (liquidated damages, enhancements, for such penalties and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC (marked “Other Income”) 1099 shall be issued to the taxing authorities and Eligible Settlement Class Members.

Appears in 1 contract

Samples: Action Settlement Agreement

Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Percent (50%) of each Settlement Award will be treated as wages and subject to normal payroll tax withholdings and payments, and these amounts shall be reported to the taxing authorities and the Settlement Class Members on IRS Forms W-2. Fifty Percent (50%) of each Settlement Award will be treated as non-wages (liquidated damages, enhancements, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC 1099 (marked “Other Income”) shall be issued to the taxing authorities and Eligible Settlement Class Members.

Appears in 1 contract

Samples: Settlement Agreement

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Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Forty Percent (5040%) of each Settlement Award will be treated as wages and subject to normal payroll tax withholdings and payments, and these amounts shall be reported to the taxing authorities and the Settlement Class Members on IRS Forms W-2. Fifty Sixty Percent (5060%) of each Settlement Award will be treated as non-wages (liquidated damagespenalties, enhancements, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC 1099 (marked “Other Income”) shall be issued to the taxing authorities and Eligible Settlement Class Members.

Appears in 1 contract

Samples: Settlement Agreement

Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Forty Percent (5040%) of each Settlement Award will be treated as wages and subject to normal payroll tax withholdings and payments, and these amounts shall be reported to the taxing authorities and the Settlement Class Members and Settlement Subclass Members on IRS Forms W-2. Fifty Sixty Percent (5060%) of each Settlement Award will be treated as non-wages (liquidated damagespenalties, enhancements, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC 1099 (marked “Other Income”) shall be issued to the taxing authorities and Eligible Settlement Class Members and Settlement Subclass Members.

Appears in 1 contract

Samples: Settlement Agreement

Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Percent (50%) of each Settlement Award will be treated as wages and subject to normal payroll tax withholdings and payments, and these amounts shall be reported to the taxing authorities and the Settlement Class Members on IRS Forms W-2. Fifty Percent (50%) of each Settlement Award will be treated as non-wages (liquidated damagespenalties, enhancements, liquidated/exemplary damages, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC 1099 (marked “Other Income”) shall be issued to the taxing authorities and Eligible Settlement Class Members.

Appears in 1 contract

Samples: Settlement Agreement

Allocation of Settlement Awards Between Wages and Non-Wages. Fifty Percent One-Third (5033%) of each Settlement Award will be treated as wages and subject to normal payroll tax withholdings and payments, and these amounts shall be reported to the taxing authorities and the Settlement Class Members on IRS Forms W-2. Fifty Percent Two-Thirds (5067%) of each Settlement Award will be treated as non-wages (liquidated damagespenalties, enhancements, and prejudgment interest) on which there will be no tax withholding and for which IRS Forms 1099- MISC 1099 (marked “Other Income”) shall be issued to the taxing authorities and Eligible Settlement Class Members.

Appears in 1 contract

Samples: Settlement Agreement

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