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

Taxes Owed on Payments to Class Members. Plaintiffs and Xxxxxxx are asking the Court to approve an allocation of 10% of each Individual Class Payment to taxable wages (“Wage Portion”) and 90% to interest (45%) and penalties (45%) (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W- 2 Forms. Xxxxxxx’x share of employer payroll taxes owed on the Wage Portion will be deducted from the Gross Settlement Amount. 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 Plaintiffs and Xxxxxxx 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, at your own expense, if you have any questions about the tax consequences of the proposed Settlement.

Taxes Owed on Payments to Class Members. Plaintiffs and Xxxxxxx KSEA are asking the Court to approve an allocation of 10% one-third (1/3) of each Individual Class Payment to taxable wages (“Wage Portion”) and 90% two-thirds (2/3) to interest (45%) interest, penalties, and penalties (45%) other non-wages (“Non-Wage Portion.”). The Wage Portion is subject to withholdings and will be reported on IRS W- 2 W-2 Forms. Xxxxxxx’x share of KSEA will separately pay employer payroll taxes owed it owes on the Wage Portion will be deducted from the Gross Settlement AmountPortion. 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 Plaintiffs and Xxxxxxx KSEA 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, at your own expense, advisor if you have any questions about the tax consequences of the proposed Settlement.

Taxes Owed on Payments to Class Members. Plaintiffs Plaintiff and Xxxxxxx QNAP are asking the Court to approve an allocation of 1020% of each Individual Class Payment to taxable wages (“Wage Portion”) and 9080% to interest (45%) and penalties, and 100% of the Former Non- Exempt Employee Payment to penalties (45%) (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W- 2 W-2 Forms. Xxxxxxx’x share of QNAP will separately pay employer payroll taxes owed it owes on the Wage Portion will be deducted from the Gross Settlement AmountPortion. 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 Plaintiffs Plaintiff and Xxxxxxx QNAP 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, at your own expense, advisor if you have any questions about the tax consequences of the proposed Settlement.

Taxes Owed on Payments to Class Members. Plaintiffs Plaintiff and Xxxxxxx XxXxxxx Nut are asking the Court to approve an allocation of 1020% of each Individual Class Payment to taxable wages (“Wage Portion”) and 9080% to interest (45%) and penalties (45%) (“Non-Wage Portion.”). The Wage Portion is subject to withholdings and will be reported on IRS W- 2 W-2 Forms. Xxxxxxx’x share of XxXxxxx Nut will separately pay employer payroll taxes owed it owes on the Wage Portion will be deducted from the Gross Settlement AmountPortion. 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 Plaintiffs Plaintiff and Xxxxxxx XxXxxxx Nut 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, at your own expense, advisor if you have any questions about the tax consequences of the proposed Settlement.

Taxes Owed on Payments to Class Members. Plaintiffs Plaintiff and Xxxxxxx XYZ are asking the Court to approve an allocation of 10% of each Individual Class Payment to taxable wages (“Wage Portion”) and 90% to interest (45%) and penalties (45%) [e.g., interest, etc.] (“Non-Wage Portion.”). The Wage Portion is subject to withholdings and will be reported on IRS W- 2 W-2 Forms. Xxxxxxx’x share of [Option 1: (XYZ will separately pay employer payroll taxes owed it owes on the Wage Portion will be deducted from the Gross Settlement Amount. 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 Plaintiffs Plaintiff and Xxxxxxx 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, at your own expense, advisor if you have any questions about the tax consequences of the proposed Settlement.

Taxes Owed on Payments to Class Members. Plaintiffs and Xxxxxxx Defendants are asking the Court to approve an allocation of 10% one-third (1/3) of each Individual Class Payment to taxable wages (“Wage Portion”) and 90% two-third (2/3) to interest (45%) and penalties (45%) (“Non-Wage Portion.). The Wage Portion is subject to withholdings and will be reported on IRS W- 2 W-2 Forms. Xxxxxxx’x share of Defendants will separately pay employer payroll taxes owed they owe on the Wage Portion will be deducted from the Gross Settlement AmountPortion. 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 Plaintiffs and Xxxxxxx Defendants 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, at your own expense, advisor if you have any questions about the tax consequences of the proposed Settlement.