Common use of Taxes Owed on Payments to Class Members Clause in Contracts

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 25% of each Individual Class Payment to taxable wages (“Wage Portion”) and 75% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 2 contracts

Samples: Class Action and Paga Settlement Agreement and Class Notice, Class Action and Paga Settlement Agreement and Class Notice

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Taxes Owed on Payments to Class Members. Plaintiff Plaintiffs and Defendant are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties interest, etc. (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Non- Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff Plaintiffs and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 2 contracts

Samples: Class Action and Paga Settlement Agreement and Class Notice, Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Defendants are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant (Defendants will separately pay employer payroll taxes it owes on the Wage Portion. .) The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Defendants have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 2 contracts

Samples: Class Action and Paga Settlement Agreement and Class Notice, Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Defendants are asking the Court to approve an allocation of 2520 % of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580 % to interest penalties and penalties interest, etc. (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Defendants will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Non- Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Defendants have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff Plaintiffs and Defendant Ambitions are asking the Court to approve an allocation of 2533% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7567% to non-wage statutory damages and interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Ambitions will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff Plaintiffs and Defendant Ambitions have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant JBT are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest interest, and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant JBT will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff Plaintiffs and Defendant JBT have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 75% to 80%to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant TKC are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7540% to interest interest, and 40% to penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant TKC will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant TKC have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff Plaintiffs and Defendant Sunoil are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties interest, penalties, etc. (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Sunoil will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff Plaintiffs and Defendant Sunoil have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff Plaintiffs and Defendant ONP are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant ONP will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff Plaintiffs and Defendant ONP have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes, if applicable) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2510% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7590% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Hillsides are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to penalties and interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Hillsides will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Hillsides have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant ABR are asking the Court to approve an allocation of 2540% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7560% to penalties and interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant (ABR will separately pay employer payroll taxes it owes on the Wage Portion. .) The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant ABR have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties [e.g., interest, etc.] (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant TravelStore are asking the Court to approve an allocation of 2510% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7590% to penalties and interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant TravelStore will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant TravelStore have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Arjo are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Arjo will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Arjo have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2510% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7550% to interest and 40% penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Public Security are asking the Court to approve an allocation of 2515% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7585% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Public Security will separately pay employer payroll taxes it owes on the Wage Portion. .) The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Public Security have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff and Defendant AHF are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties non-wages (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant AHF will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are not counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant AHF have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Amended Class Action and Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff Plaintiffs and Defendant are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff Plaintiffs and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Electro Adapter are asking the Court to approve an allocation of 2530% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7570% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Electro Adapter will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Electro Adapter have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Ansible are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Ansible will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Ansible have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Defendants are asking the Court to approve an allocation of 2515% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7585% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant XXX will separately pay employer share of payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Defendants have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2510% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7545% to interest and 45% to penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 25% one third of each Individual Class Payment to taxable wages (“Wage Portion”) and 75% two thirds to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff Plaintiffs and Defendant Defendants are asking the Court to approve an allocation of 2580% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7520% to penalties and interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Defendants will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Nonnon-Wage Portions wage portion of the Individual Class Payments on IRS 1099 Forms, without withholdings or deductions for taxes. Although Plaintiff Plaintiffs and Defendant Defendants have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: www.cptgroupcaseinfo.com

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 25% of each Individual Class Payment to taxable wages (“Wage Portion”) and 75% two thirds to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Compex are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Compex will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Compex have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2515% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7585% to penalties and interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant MASI are asking the Court to approve an allocation of 25% 33 1/3 of each Individual Class Payment to taxable wages (“Wage Portion”) and 75% 66 2/3 to interest penalties and penalties interest. (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 W- 2 Forms. Defendant MASI will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant MASI have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2515% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7585% to interest interests and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

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Taxes Owed on Payments to Class Members. Plaintiff and Defendant Defendants are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to penalties and interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant (Defendants will separately pay employer payroll taxes it owes owed on the Wage Portion. .) The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Defendants have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class

Taxes Owed on Payments to Class Members. Plaintiff and Defendant EDNET are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant EDNET will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant EDNET have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2510% of each Individual Class Payment to taxable wages (“Wage Portion”“Wage Portion”) and 7590% to penalties and interest and penalties (“Non“Non-Wage Portion.Portion”). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff and Defendant XXXX are asking the Court to approve an allocation of 2515% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7585% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant XXXX will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant XXXX have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff Plaintiffs and Defendant are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. (Defendant will separately pay employer payroll taxes it owes on the Wage Portion. .) The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff Plaintiffs and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant XxXxx Electric are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to penalties and interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant XxXxx Electric will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Defendants are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7515% to reimbursement of expenses and 65% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Defendants will separately pay employer payroll taxes it owes they owe on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Defendants have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Defendants are asking the Court to approve an allocation of 2533.33% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7566.67% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant (Defendants will separately pay employer payroll taxes it owes on the Wage Portion. .) The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Defendants have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 25% one-third of each Individual Class Payment to taxable wages (“Wage Portion”) and 75% two-thirds to penalties and interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 25% twenty percent (20%) of each Individual Class Payment to taxable wages (“Wage Portion”) and 75% eighty percent (80%) to interest and penalties interest, penalties, etc. (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff Plaintiffs and Defendant are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties penalties. (“Non-Wage Portion.). ) The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff Plaintiffs and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2520% of each Individual Class Settlement Payment to taxable wages (“Wage Portion”) and 7580% to interest penalties, interest, and penalties non-wage damages (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Settlement Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff and Defendant XYZ are asking the Court to approve an allocation of 25% of each Individual Class Payment to taxable wages (“Wage Portion”) and 75% to interest and penalties [e.g., interest, etc.] (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant [Option 1: (XYZ will separately pay employer payroll taxes it owes on the Wage Portion. .)] The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant XYZ have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class

Taxes Owed on Payments to Class Members. Plaintiff Plaintiffs and Defendant Defendants are asking the Court to approve an allocation of 2515% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7585% to penalties and interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Defendants will separately pay employer payroll taxes it owes they owe on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff Plaintiffs and Defendant Defendants have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Defendants are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant Defendants will separately pay employer payroll taxes it owes owed on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Defendants have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Non- Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement

Taxes Owed on Payments to Class Members. Plaintiff and Defendant the Company are asking the Court to approve an allocation of 2520% (“Wage Portion”) and 80% of each Individual Class Payment to taxable wages (“Wage Portion”) to penalties and 75% to interest and penalties (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant The Company will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant the Company have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant Honeybee are asking the Court to approve an allocation of 2520% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7580% to interest and penalties non-statutory damages (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 W- 2 Forms. Defendant Honeybee will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant Honeybee have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

Taxes Owed on Payments to Class Members. Plaintiff and Defendant are asking the Court to approve an allocation of 2534% of each Individual Class Payment to taxable wages (“Wage Portion”) and 7566% to interest and penalties interest, etc. (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W-2 Forms. Defendant will separately pay employer payroll taxes it owes on the Wage Portion. The Individual PAGA Payments are counted as penalties rather than wages for tax purposes. The Administrator will report the Individual PAGA Payments and the Non-Non- Wage Portions of the Individual Class Payments on IRS 1099 Forms. Although Plaintiff and Defendant have agreed to these allocations, neither side is giving you any advice on whether your Payments are taxable or how much you might owe in taxes. You are responsible for paying all taxes (including penalties and interest on back taxes) on any Payments received from the proposed Settlement. You should consult a tax advisor if you have any questions about the tax consequences of the proposed Settlement.

Appears in 1 contract

Samples: Class Action and Paga Settlement Agreement and Class Notice

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