Do I have to pay income taxes on my personal injury settlement? No. If you receive a settlement for a personal injury case, it is not income. A personal injury settlement makes up for a loss incurred. For example, if your car is stolen, your insurance company gives you a check for the value of … Continue reading Income Tax on Injury Settlement
Category: Damages in Personal Injury Cases
I have an existing case which seems to be taking forever to settle. My lawyer told me there is a stay or hold on the case because one of the defendants is in bankruptcy. How long can this take? When we initially consult with clients, we try to give clients a range of how long … Continue reading Bankruptcy Stay
How does a judge determine the monetary value of a personal injury claim? A Court awards "fair and reasonable" compensation for the injuries sustained. This does not really seem like an answer, but the question is too vague to give a better answer. The best I can really do is to briefly explain the process … Continue reading Monetary Value of Personal Injuries