by Structured Settlement Watchdog
As Elvis Presley or BIg Mama Thornton might parody to Novation Settlement Solutions "You ain't nothing but a con dog"
Novation Settlement Solutions is conning structured settlement annuitants by intentionally and falsely stating that the fact that punitive damages and attorney fees are subject to taxes are a con of structured settlement annuities.
Just another twisted move by West Palm Beach based Novation Funding LLC to twist people out of their structured settlement by saying and doing anything so that it can make fat profits.
The true facts about structured settlement annuities:
- The issue of taxation of structured settlement payments is a function of the type of damages, not structured settlement annuities that fund them.
- Structured settlement payments that represent damages on account of personal physical injury, physical sickness, wrongful death, workers compensation and wrongful imprisonment are income tax-free subject to the applicable sections of the Internal Revenue Code.
- Punitive damages and other taxable damages can be structured via a non qualified assignment, which are funded with structured settlement annuities, or periodic payment reinsurance.
- Structuring taxable damages is a customized financial solution, with many applications that helps avoid a major tax hit in year one and may mitigate AMT.
You Ain't Nothing But a Con Dog
You ain't nothing but a con dog, scratching all the time
I'd rather eat a corn dog, bitchin' better time.
You don't no squat about structures, so you ain't no friend of mine.
Well, you said there was taxes
Found out that was just a lie...