Marital Settlement Agreement – Taxable Payments

By: Derek Hawkins//May 8, 2018//

Listen to this article

WI Court of Appeals – District III

Case Name: Essa Shoukry Yacoub v. Mary Elena Yacoub

Case No.: 2016AP2291

Officials: Stark, P.J., Hruz and Seidl, JJ.

Focus: Marital Settlement Agreement – Taxable Payments

Essa Yacoub appeals an order addressing the tax treatment of certain payments he made under a marital settlement agreement (MSA) with his ex-wife, Mary Yacoub. We conclude that, under federal law, the MSA failed to sufficiently designate the payments Essa made for Mary’s COBRA insurance premiums as nontaxable events. We reverse those portions of the order in which the circuit court concluded to the contrary, required Essa to amend his 2014 and 2015 tax returns, and awarded Mary attorney’s fees based, in part, upon her prevailing on that issue. We remand for further proceedings consistent with this opinion.

Full Text

Attorney Derek A. Hawkins is the managing partner at Hawkins Law Offices LLC, where he heads up the firm’s startup law practice. He specializes in business formation, corporate governance, intellectual property protection, private equity and venture capital funding and mergers & acquisitions. Check out the website at www.hawkins-lawoffices.com or contact them at 262-737-8825.

Select Region or Brand

Upcoming Event