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You never know how many people are facing the same problem with a product or service. The ones who start a Class Action usually get the bigger chunk of the settlement. Came across this: SueEasy.com Apparently you can start a Class Action and if others join.. A class action lawsuit can easily be formed.
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∙ 16y ago
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Is money from a EEOC lawsuit taxable?
Yes-if you get a settlement from the EEOC it is taxable. If it is considered wages it is taxed at the rate your wages were taxed. If it is compensatory damages it is taxed at a lower rate but it cannot exceed 50% of the settlement.
Is Term life insurance money taxable?
In the US, the money is not taxable if the beneficiary is an adult.
In Ohio do you have to pay taxes on money collected in a malpractice suit?
It is possible to have taxable and nontaxable income included in any settlement amount that you have received. If you receive a 1099-MISC you will know that you have some taxable income that you will have to report on your 1040 income tax return. Perhaps your attorney or the Judge can tell give you some information about this and the terms of the settlement.
If i receive life insurance for deceased husband is it taxable?
No but what you do with the money may be taxable.
Is fire insurance money taxable?
no
When cashing a CD is the money taxable?
no
What is The taxable portion on the loan?
None of of the borrowed money would be taxable income to you when you receive it.
Is money received as a beneficiary from an estate taxable?
Money received as a beneficiary from an estate is not considered taxable. Money that is left on behalf of an estate is an inheritance and is considered to be tax free.
Is workers compensation money taxable when used to offset social security?
No. Workers comp is not taxable.
Do you pay taxes on a homeowners insurance settlement?
No, that should not be considered taxable income. If it is a large loss and you do not use the money towards the repair, you could run into tax trouble. I would consult an accountant if this is the case.
What is taxable investment?
An investment, whose returns are taxable can be termed as taxable investment. For ex: In India, the interest earned on bank deposits are taxable. Hence depositing money in fixed deposits can be considered as a taxable investment
Do you have to pay taxes on money you received in a car accident settlement?
General guidelines: If the money you receive is to replace taxable income - loss of wages, for example - then there is a taxable situation. (You would have paid tax on the income had you received it normally). If the money is to pay for hospital bills, household assistance, auto repairs or replacements - basically things to restore you to where you were before the event, then there's no taxable event (assuming you didn't tryto take a deduction for the casualty loss - meaning you can't deduct a loss that you are reimbursed for, as no loss actually occurred).
