If you’re depending on a personal injury settlement to cover the costs of catastrophic injuries, emotional distress, lost wages, or medical bills, the last thing you want to worry about is if your injury insurance settlements are taxable. Unfortunately, this sort of confusion is common, especially if you’re recovering from a traumatic, life-changing event.
So, today, we’re going to answer the question: “Are injury insurance settlements taxable?” Keep reading to learn the general rule when it comes to paying taxes on this sort of compensation, as well as a few of the most common exceptions.
Continue reading “Is My Personal Injury Insurance Settlement Taxable?”
