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Lump Sum Settlement (LESS) Direct Reimbursement Payment and Rating Program for Public Employer State Agencies INSTRUCTIONS: This LESS Program is available to only those public employer state agencies
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Lump sum settlement (LSS) is a one-time payment made to resolve a legal case or claim without ongoing payments.
The individual or entity receiving the lump sum settlement is usually required to file the LSS.
To fill out a lump sum settlement (LSS), you typically need to provide details about the settlement amount, the parties involved, and any applicable tax information. It is advisable to consult a legal or tax professional for specific guidance.
The purpose of a lump sum settlement (LSS) is to provide a financial resolution to a legal case or claim, avoiding the need for ongoing payments or a prolonged legal process.
The information reported on a lump sum settlement (LSS) usually includes the settlement amount, the parties involved, and any relevant tax information. Specific reporting requirements may vary depending on the jurisdiction.
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