Search
Member List
Calendar
Help
|
Settlements and Taxes
|
|
02-08-2008, 08:41 PM
Post: #1
|
|||
|
|||
|
Settlements and Taxes
Was curious, Are WC settlements taxable? or reported to the IRS. I was going to ask my attorney but forgot. Is a settlement to be reported as income...........
Life isn't about waiting for the storm to pass. It's about learning to dance in the rain. |
|||
|
|
02-08-2008, 08:45 PM
Post: #2
|
|||
|
|||
|
RE: Settlements and Taxes
no they are not taxable
;)Workmans comp is not a road you want to travel alone.You need a good lawyer,a great family and good friends to lean on.If you make it thru without losing everything you have worked for all your life,you have come out ahead of the game..... 
|
|||
|
|
|
02-08-2008, 09:10 PM
Post: #3
|
|||
|
|||
|
RE: Settlements and Taxes
Thanks Jayne, Now if I would get my check I would be happy......
Life isn't about waiting for the storm to pass. It's about learning to dance in the rain. |
|||
|
|
|
02-09-2008, 02:16 PM
Post: #4
|
|||
|
|||
|
RE: Settlements and Taxes
Tuffy, Jayne is Correct that Settlements are non-taxable, but Check to be Sure that any Penalties or Interest Paid to You are also non-taxable. I believe some of those, especially any Interest May Be! Congratulations and Enjoy Your new found Fortune!!!!!
Failed Back Surgery, Chronic Pain, Totally Disabled. Knowledge is Power, Especially in the World of w/c. Learn as Much as You can about Your States w/c Laws, and don't Fight Battles alone, They Use Attorney's, and so Should You!! |
|||
|
|
|
« Next Oldest | Next Newest »
|
| Possibly Related Threads... | |||||
| Thread: | Author | Replies: | Views: | Last Post | |
| taxes in pa | boilerman | 8 | 1,147 |
03-26-2011 03:33 PM Last Post: Cervical_Fusion |
|
| Settlements, and Invest for future needs. | Bad Boy Bad Boy | 2 | 978 |
12-16-2009 02:41 PM Last Post: Manley2 |
|
| Settlements | Bummer Knees | 2 | 1,123 |
08-16-2008 08:20 PM Last Post: Bummer Knees |
|
| Beer and Taxes!!!!! | CRABBY | 2 | 1,059 |
11-27-2007 10:58 AM Last Post: jayne |
|
| Taxes... | CRABBY | 2 | 709 |
11-08-2007 05:15 PM Last Post: Tuffy |
|
User(s) browsing this thread: 1 Guest(s)