Does one pay taxes on injury settlements? (California) and how do settlements pay out? Through a third party? Through time? Or is that part of particular determination in each case- Workplace verbal, physical harrassment and job threats etc---
2007-09-05 05:19:22 · 2 answers · asked by ARTmom 7 in Politics & Government ➔ Law & Ethics
How they pay out depends on your settlement.
Don't quote me on this -- consult the IRS website or a tax attorney, or even a CPA or the guy at H&R Block who does your taxes -- but I'm pretty sure that in CA, you don't pay taxes on settlements or plaintiff awards.
2007-09-05 10:34:09 · answer #1 · answered by Hillary 6 · 0⤊ 0⤋
Like others have said you'd hire a lawyer and go to court. You can find a lawyer who will take 10-15% and not get paid unless he wins (assuming a decent case). However you run the risk of having to pay court costs if the judge goes against you being yours and maybe the company if they file a counter suit. Also your case may not be so cut and dry but their insurance would cover your issue be it your fault or theirs and they would rather have it taken care of then risk public exposure. However take them to trial and they may fight back claiming your fault and you get nothing but a bill.... or maybe less. I'd say take a look at the serious of the burns vs the offer. If its nothing major in burns such as scared face or cant live a normal life then go for it. If its minor take the money and let it be.
2016-05-17 09:10:10 · answer #2 · answered by ? 3 · 0⤊ 0⤋