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Can a lump sum personal injury settlement be used as income for child support in new york state?
Wiki User
∙ 14y ago
The court should certainly take a PI settlement into account.
Wiki User
∙ 14y ago
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Can child support take personal injury settlement?
"settlement" ... to collect past-due support, yes.
Do you have to report a personal injury settlement as income in New Jersey?
No, compensation for personal injuries is tax exempt.
Can personal injury settlement be garnished for child support in FL?
Yes, for past-due support.
Do you have to pay social security on personal injury settlement?
No. Social Security (FICA) is paid on earned income.
Are wrongful death settlements taxable?
Settlements received in a personal injury settlement are generally not considered income. It is usually thought of as a means of making someone whole for losses attributed to the injury and therefor isn't typically taxed. Emotional distress, when not associated with a physical injury is typically included as taxable income. Non-punitive damages received for personal injuries are excluded while, punitive damages are taxable income. http://www.pulversthompson.com/personal-injury-lawyer-blog/is-my-personal-injury-settlement-taxable/
You receive a settlement from a law suit Is that income subject to Federal or State income taxes?
It depends what the issue of the case is about. If the settlement is in a personal injury lawsuit, there are no taxes. This money is strictly compensation for physical injuries. If the settlement is for back-pay or loss of income lawsuit, then there probably will be taxes.
Do you have to pay taxes on a personal injury settlement from a auto accident?
Generally speaking you do not have to pay taxes on personal injury settlements. However, in certain situations where (1) all or part of the proceeds of the settlement is treated as disability income, and (2) the premium of the policy (under which the proceeds were paid) was paid by an employer; then that part of the proceeds will be treated as a taxable ordinary income.
Will my personal injury settlement be taken by by judgments owed on my credit?
Can money from personal injury suit be taken from a creditor
What are the advantages of taking a personal injury settlement?
There are a few advantages to taking a personal injury settlement. The biggest advantage to take a settlement is avoiding lengthy court proceedings. It also guarantees a payment award and gets money to the victim faster.
Can medicaid put a lien on your personal injury settlement in NJ?
yes
Do you have to pay workers compensation back from a personal injury settlement?
Yes
Is a spouse entitled to any part of a personal injury settlement in a divorce?
Yes, a spouse may be entitled to a part of a personal injury settlement in a divorce. This depends on the laws in your state and how long you have been married.
