Uncle Sam's Cut: Are Personal Injury Settlement Claims Taxable?
Regardless of whether you settled your personal injury claim pre-trial, which is generally 95 to 96% of the case, or at trial, understanding when Uncle Sam takes a cut into your settlement is crucial. You don't want the IRS breathing down your back, especially since not refusing to pay your taxes is a criminal offence. This article will explain what you need to know about whether personal injury claims are taxable.