Two reasons were new taxes and banning of settlement/land claims in the Ohio River Valley territory.
They won't take your settlement away but you should pay some of what you owe on your back taxes. This won't happen automatically.
You do not generally have to pay taxes on an insurance settlement claim. You can check with your tax firm or accountant for the rules specific to your state.
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.
No. This type of settlement is not generally taxable.
No
No.
Service taxes for small businesses are taxes that business incur when performing a service. The higher these are, the lower the incentive for a business to perform an actual service.
From your attorney
totally babes!
There are too many variables for us to hazard a guess. Normally a settlement is a settlement, and the taxes would be the same. However, there may be other circumstances at play. You should consult a tax accountant.
no you can only file taxes in a tax place around the world or where ever you live