Death benefits are never taxable as long as you never deducted the premiums on your tax return.
Usually, death benefits are not taxed. A quick call to the state attorney general's office should provide you with an answer.
no
Death benefits are not taxable for income tax purposes.
Union strike pay is taxable as income.
No. Death benefits from life insurance are not taxable. The only way that it could be taxes is if you illegally deducted your premiums on your tax returns. As long as the premiums are paid with after- tax money, there is no income tax on death benefits.
The death benefit itself will not be considered taxable income. However, if your state requires that the life insurance company pay interest on the death benefit if the claim isn't processed in a certain period of time, then the amount of interest is considered taxable.
At this time, October 2010, health insurance benefits are NOT taxable. However, as the new national healthcare progresses over the years there are provisions in it that my treat those benefits as taxable income.
Yes, the benefits are taxable.
no
They will be taxable at the same rate as the other benefits, unless invested in a tax free vehicle, which will be stated.
The 250 death benefit from the SSA is not taxable income.