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actions, causes of action, claims, demands,
declaratory judgment, damages, back wages, overtime
compensation, expenses, compensation, attorneys fees,
interest, liquidated damages, costs, and all
consequential damage on account of or in any way
arising out of any and all known and unknown economic
losses or damages compensable under the Fair Labor
Standards Act resulting from or which may result from
my employment with the State of Kansas or any agency
of the State of Kansas from January 1, 1987 through
August 31, 1994.
On August 31, 1994, the U.S. District Court for the
District of Kansas entered a Journal Entry of Dismissal With
Prejudice and approved the settlement agreement. Plaintiffs
received the settlement payments in two checks, one
representing the unpaid overtime compensation and the other
representing the liquidated damages portion of the settlement.
The portion allocated to back wages had all applicable taxes
and employee contributions withheld, and the portion allocated
to liquidated damages was paid in full to the employees. The
release provided that the liquidated damages portion of the
settlement payment would be reported to the Internal Revenue
Service on a Form 1099-MISC.
The total amount due to Jacobs by the State of Kansas was
$96,134. The State issued him a W-2 in the amount of $48,067,
withheld income and FICA taxes on that amount, and paid the
balance of the $48,067 to Jacobs, which he then reported on his
1994 Federal income tax return as income. The State of Kansas
also issued him a Form 1099-MISC in the amount of $48,067 and
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