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).
No! Couse weaint own nothin
no you can only file taxes in a tax place around the world or where ever you live
Yes, you will have to pay taxes on any estate money received.
Worker's Comp payments are not taxable.
I am a resident of New York State and was involved in a personal injury accident. The settlement that I received is considered wages. You will have to check with your state and local tax laws. I am sure that a phone call to Jackson & Hewwitt or H & R Block in your state will work as well.
JPWentworth is the best known of those in the structured settlement industry. They will pay you less than the total value of your settlement and you have to be aware that this might leave you with a tax liability so that you could lose more money by paying taxes upon it.
yep
Yes.
It depends what the issue of the case is about. If the settlement is in a personal injury lawsuit, there are no taxes. This money is strictly compensation for physical injuries. If the settlement is for back-pay or loss of income lawsuit, then there probably will be taxes.
Generally, no.
of course you do
Generally, no