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Legal settlement taxes

When Do Taxpayers Need to Set Aside Taxes for a Legal Settlement?

March 16, 2019 12:08 PM

Many taxpayers will never need to evaluate the tax impact of a legal settlement. But for those who are seriously injured in a car crash, win a medical malpractice lawsuit, or are part of a nationwide class action product liability claim, knowing how a settlement award will be treated at tax time is crucial. Failure...