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Yes this could be possible depending on what the settlement amounts would be made for.
AnswerNOPE, can't touch them. IRS, Nobody can touch any money you get compensated for personal INJURY(I thought that was your question) after you pay your medical bills and 30-40% attorney fees, the rest is yours= PERIOD.No "child support taken out" Back taxes /IRS- Nada.............Have a great day!!,
AnswerIn the United States, Insurance claim settlements (such as life insurance proceeds, personal injuries or property loss) are typically not considered income and are therefore not taxable. Loss settlements of these types that result from an insurance claim are categorized legally as "indemnification" which is simply compensation for your loss. In simpler terms, there is typically no profit or gain involved and therefore no taxable income.As in many things though there is however a grey area. When compensation is for loss of future earnings or wages. Since the future wages would have been taxable when earned. One could construe some portion of such a settlement as taxable. A consultation with your attorney would be advised in such a situation.
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Do you file taxes on a car accident settlement?
no you can only file taxes in a tax place around the world or where ever you live
Can I obtain a cash settlement after a car accident?
Yes, you can infact obtain a cash settlement after a car accident. Once a party is found at fault and proper court proceedings have been gone through a cash settlement can be obtained
Do you get settlement from a car accident injury if you have medical coverage?
yes
What is the tax percentage on a settlement from a car accident?
The proceeds of compensation from an award for a vehicle accident are not taxable.
Amount of settlement?
You need a more complete question. Try again. Settlement of what? Divorce? Car accident? what state?
Can you receive a car accident insurance settlement after filing a Chapter 13 bankruptcy if the accident happened after the filing?
Yes
Do you have to pay taxes on car accident settlement from the at fault insurance company?
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.
How long after you sign settlement papers can you expect a check for a car accident?
for ever
Should you submit a settlement before discontinuing treatment after a car accident?
Yes u should
How long does liberty mutual take to send the check after car accident settlement?
too long
What are some tips on car accident settlements?
If you are in the unfortunate situation of requiring a car accident settlement, the best option is to seek the advice of a professional. They will steer you through the often complicated process.
How much of a settlement will you receive after having surgery due to a car accident?
There is no automatic number. Contact an attorney.
