I live in Virginia and received workman's comp for the few months I was out of work. When I received the check, there was no statement showing any taxes being deducted. Is this amount taxable?
2007-01-21 14:39:25 · 4 answers · asked by rockdeboat 2 in Business & Finance ➔ Taxes ➔ United States
You may receive other payments that are related to your disability. The following payments are not taxable.
Benefit payments from a public welfare fund, such as payments due to blindness.
Workers' compensation for an occupational sickness or injury if paid under a workers' compensation act or similar law.
Compensatory (but not punitive) damages, for physical injury or physical sickness.
Disability benefits under a “no-fault” car insurance policy for loss of income or earning capacity as a result of injuries.
Compensation for permanent loss or loss of use of a part or function of your body, or for your permanent disfigurement.
2007-01-21 14:55:02 · answer #1 · answered by Stephen H 1 · 0⤊ 0⤋
Workman's comp is not taxable, as long as it's from the state.
2007-01-21 14:45:36 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
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2016-12-16 10:19:27 · answer #3 · answered by ? 4 · 0⤊ 0⤋
The workers comp may be taxable or not under certain conditions. To determine:
http://www.irs.gov/pub/irs-pdf/p525.pdf
2007-01-21 14:49:25 · answer #4 · answered by Anonymous · 0⤊ 0⤋