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The taxability of court settlements depends on what the settlement is for. If it is compensation for a loss, in general it is not taxable. If it is a 'penalty' it will be taxable. Your attorney should be able to tell you what is taxed and what is not taxed. Or consult your tax professional.
What else can I help you with?
Is the money you get from winning a law suit taxable?
This would depend on what the reason for the suit is and what payments are made for. If, for instance the suit was for unpaid wages, then the direct payments demanded by the court for wages would be taxable, as would interest allowed by the court. If a suit was for damages such as an injury to a person in an automobile accident then the award would not be taxable. Worker's Compensation payments are also an item that is not taxable.
What is adverse civil judgment?
It means you lost a civil suit in court and there is possibly a monetary judgment against you - can result in a Lien, etc.
Under which kind of legal proceeding may an injured person seek monetary damages?
Civil Law. By initiating a "TORT" action - a civil suit for damages.
What type of lawsuit can be filed when someone is injured or killed?
A civil suit for personal injury and/or wrongful death. There are attorneys who specialize only in such cases. They usually accept such cases on a contingency basis, meaning they get paid a specific percentage of the monetary award. In most instances attorneys in such cases only get paid if they win the suit for the plaintiff.
Can there be a civil attachment to a criminal conviction?
No. Civil issues cannot be decided as part of a criminal prosecution. Restitution is a criminal sentence, not a civil award. If the victim would like to seek civil damages, he or she must file a civil suit.
What are the consequences for defamation?
A suit for defamation would be a civil suit. There are no statutory punishment or jail time for civil offenses, the case would most probably be settled with a monetary award. Edited to add: In addition to monetary damages, a successful defamation plaintiff, in many cases, can also get a court order forcing a website to remove the defamatory content.
You accepted a plea bargain although you were innocent - can you file for a civil suit?
Not enough information to answer. A civil suit against WHO?
Is civil suit and lawsuit the same thing?
A Civil Suit is a type of lawsuit, therefore they are the same. A Civil Suit can be filed by any individual who is looking to file a case against someone for emotional or physical injuries.
Where did you get draft of civil suit?
i want sample of the civil suits
What legal actions can be taken in a civil suit involving the sharing of text messages?
In a civil suit involving the sharing of text messages, legal actions can include filing a lawsuit for invasion of privacy, defamation, or breach of confidentiality. The court may also issue injunctions to stop further sharing of the messages and award damages to the affected party.
What is a tort suit?
"Tort" implies a 'civil' offense. It is a suit for violation of "civil" law as opposed to a violation of "criminal" law.
Can your attorney agree to a settlement in a civil suit without your consent?
can your attorney agree to a settlement in a civil suit without your consent
