When you're injured and feel you have a claim for a personal injury lawsuit, one of the first questions that may enter your mind is whether winning the case will create a tax liability. After all, who wants to feel like they've won such a victory just to be saddled with a new problem?
Fortunately, the short answer is no. Personal injury lawsuit winnings are not taxable.
Our goal with clients is to get everything as organized as possible when starting a suit. This ensures there are no surprises when we begin negotiating, and when an we establish an adequate burden of proof we can often reach a favorable settlement without having to go to trial.
That avoids what would be months or even years hashing out the situation in a court room.
Since those winnings are not taxable, that means you can move on with your life as expediently as possible.
For more information about these types of lawsuits, read more:
- Construction accident attorneys for the Bronx
- I got hurt working with a personal trainer. Should I get an attorney?
- What happens when an MTA employee is injured at work?
Or, if you'd like to speak with our team about your own personal injury, call us now at:
212-986-2022