Posts Tagged ‘Taxes’
Will I have to pay taxes on medical malpractice settlement?
06
Jun
I won a settlement from a medical malpractice claim where I was not given anestheisa or pain medicine for an emergency c-section. Does this count as physical injury or sickness in order to be exempt from paying taxes?
How much should I set aside for taxes on my legal settlement?
30
May
I recently was awarded a legal settlement of $55,000. The party paying the money is planning to pay it out on a 1099, labeled as “emotional distress” damages. I don’t know much about this, except that it will ultimately reduce the amount of taxes that are taken out. The problem is that because they are handing me a lump sum check with the 1099, they are not taking the taxes out in advance. Does anyone know how much of this I should set aside for my taxes next year?
are you supposed to report a law suit settlement to the IRS when claiming taxes?
29
May
I’m gonna receive a settlement soon, does anyone know whether or not it has to be reported as income when tax season returns?
car accident injury settlement in mississippi, do i have to claim it on taxes?
28
May
im 18 and this past year i was in a car accident in mississippi. i ended up with a few injuries and they just settled the case and wrote me a check for the settlement. since this was automobile accident do i have to claim this money on my taxes? is it different in mississippi? please let me know. thank you 
Are taxes payable on cash received for settlement disputes? Our builder is compensating for plumbing leak.?
25
May
Our brand new home had a plumbing leak and damaged carpets, stained furniture. The builder is compensating us for damages but the letter refers to it as “Settlement amount” rather than a reimbursement for damages. Will this become taxable?
Do I have to pay taxes on a settlement?
24
May
My husband and I sued our mortgage broker for misrepresentation. They now want to settle out of court. Will we have to pay taxes on this settlement amount?
When are federal taxes due on a lawsuit settlement amount received?
24
May
In January 2010 I received a check (10% was a separate check considered lost wages) which was the settlement for an age discrimination lawsuit resolved out of court. I need to know if I must pay the federal taxes during the quarter received or if I pay them with my income taxes for 2010.
Do I need to pay taxes for a settlement?
18
May
I got a settlement last year for an unspecified amount in CA. I actually only got half the amount after legal fees. The legal document says the following: “It is expressly intended and agreed that said settlement sum is to compensate “me” for emotional distress and physical injury and sickness allegedly suffered and that no portion of said sum is intended to compensate “me” for any loss of wagers or other income.” With that said, do i need to pay taxes?
Do I pay taxes on a personal injury settlement?
13
May
I received a settlement check from an insurance company due to a motorcycle accident. Do I need to report this for taxes?
How do i figure out taxes on a settlement?
11
May
I am getting a settlement , and i need to figure out the taxes on it before i settle .I want to make sure i am getting enough after taxes…I hope someone knows the answer……..
Do you pay taxes on a cash settlement from a workman’s comp case?
11
May
I’m not talking about the checks you get each month but when the case goes into litigation and you have the option to settle for a one lumpsum settlement. Do you have to pay taxes on that part?
Do I have to pay taxes on an out of court settlement?
05
May
My 15 month old son passed as a result of an incompetant pediatrician. A medical malpractice lawsuit was filed and now the pediatrician wants to settle out of court. I ‘may’ agree to it but as part of my decision making process I need to know if I have to pay taxes on any settlement I receive out of court.