contingency fee


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contingency fee

Law & medicine An attorney fee based on a percentage of the money recovered in a lawsuit

contingency fee

A wage charged by a legal professional for services rendered, payable only if the injured party wins damages as a result of the successful resolution of a suit. Contingency fees usually consist of a percentage of the damages recovered by the injured party.
References in periodicals archive ?
On August 15, 2011, Tax Executives Institute released the following policy statement setting forth the Institute's position on contingency fee audits.
CRAs are only allowed to accept contingency fees when decisions arc made by third parties.
Ellen Vinck, the new RIMS president, forthrightly said that she personally favored a system of single-party payment where insurance buyers pay all the costs of insurance instead of one where contingency fees are hidden.
The minority position is that contingency fees are income to the attorney, but not to the client; see Davis, 210 F3d 1346 (11th Cir.
In the Barbie doll case, a contingency fee slice of the $200,000 award could mean a payoff for the personal injury lawyers ranging from $60,000 to $100,000 - all because the woman bought a 30-year-old doll with thinning hair.
Z filed an amended return excluding the contingency fees from gross income and requested a refund of $55,489, which the IRS denied.
Indeed, we submit that contingency fee audits are more inimical to the tax system's fairness than the use of quotas, which have been roundly and rightly condemned (and uniformly disavowed by Virginia and other States).
She works on a retainer basis before the actual search begins, at which point a contingency fee arrangement kicks in.
The court also, in declining to adopt a different rule, clarified its position that attorneys who represent clients with contingency fee contracts are responsible for negotiating medical liens and subrogation claims that stem from that representation.
ATRA President Cites Contingency Fee Litigation as 'Cause for Concern'
136) find that 87% of plaintiffs hired lawyers on contingency, with 67% using a fixed contingency fee and 20%, using a varied fee that would include the type of bifurcated lee analyzed in this study.
Clearly, a contingency fee lease auditing firm will generally not waste time on a claim that is not legitimate because it is only compensated for successful results.
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