Blog Topic
Recent Updates
June 21, 2010
Death Resulting from Work Injury
June 14, 2010
Tippecanoe County Jail Inmate Receives Incorrect Medical Treatment
June 11, 2010
Bus Accident Leaves One Dead and Several Injured
May 18, 2010
Indiana Medical Malpractice & Wrongful Death ? Rights to My Loved One?s Patient Medical Records
May 07, 2010
Hamilton County Indiana Jail Death
May 03, 2010
One Worker Dead Following Indiana Construction Accident
April 27, 2010
Car Accident Indianapolis Results in Serious Injuries
April 19, 2010
Trucking Accident Northern Indiana
March 29, 2010
Press Release from NTSA
March 24, 2010
Pallet Falls, Kills Kroger Employee
Personal Injury
Taxable Settlement Proceeds
Posted by: Jason Reese
January 07, 2009
Clients often wonder if damages recovered from a personal injury case settlement are taxable. While there are some exceptions, the general answer to this question is no - settlement proceeds are not taxable. As long as the proceeds are not specifically categorized, the settlement will not be taxed. For example, if a client is awarded a $100,000 settlement, the client will receive $100,000. However, once the money has been placed in an interest bearing account, the earned interest will be taxed just like any other account.
