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Louisville Personal Injury Attorney
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Is a settlement payment taxable?

After receiving financial benefits or compensation in a personal injury case, many people do not know if they are required to pay taxes on the amount. In fact, the Internal Revenue Service (IRS) will generally not tax any personal injury settlement rewards. Even though the individual sometimes receives a large amount of money, personal injury settlement amounts are typically not considered taxable. However, there is one major exception: financial awards for lost income may be subject to taxes because it counts as income.

If you have any questions regarding your personal injury settlement, contact the knowledgeable Louisville personal injury attorneys of Sampson Law Firm today at 502-584-5050 to schedule a free consultation with one of our experienced lawyers.

 

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Sampson Law Firm


Louisville, KY 40202

Phone: (502) 584-5050
Toll-Free: (877) SAMPSON

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This is an advertisement. Founded in 1998, Sampson Law Firm is a small law firm devoted to protecting the rights of individuals-and never insurance companies-in personal injury cases. We represent clients statewide in cases involving nursing home neglect, car accidents, truck accidents, product liability, premises liability and workers' compensation.
450 South Third Street  |  Louisville, Kentucky  |  40202  |  Phone: 502-584-5050  |  Toll-Free: 877-SAMPSON | Jeffrey Sampson + | Find Us On Google+

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