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It depends on waht the award is for. If it is for lost salary/wages for example, which would have been taxable income, it most certainly would be taxable by your getting through suite. (The unreimbursed costs of that suit would become a tax deductible businesss expense).
If the award (or portion) is to compensate you for another type of loss, it will entirely dependent on that type of loss. The taxability of the reward and any reimbursements should be addrresed by your lawyer.
Wiki User
∙ 13y ago
Wiki User
∙ 16y agoIt depends on what the results are. Usually, because they are compensating you for something you lost, and had supposedly already paid taxes on, there is no tax on the compensation portion. If there are portions of the settlement that are punative, they can be taxed. Consult with your attorney, they should be able to tell you what parts are and are not taxable.
Wiki User
∙ 12y agoyes
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The Reed decision created a new standard for judging constitutionality in these types of discrimination cases?
Gender.
Can debt collectors in Canada sue you in the US?
No, and vice-versa. Creditors can in most cases still file a lawsuit against the debtor and the debtor will lose by default for non appearance.
What do you call the person being sued in a lawsuit?
Different terminology can apply in different jurisdictions. However, the person being sued is probably most frequently called the "Defendant". In some cases the term "Respondent" is used.
What is the minimum amount for a collector debt lawsuit?
Essentially, one cent. The only possible minimum is determined by the lowest denomination of currency. The lowest practical amount is more likely two to three times the cost, but then costs and fees are transferred to the debtor in most cases.
How long does it take for individual to receive cash from a lawsuit?
Terms of your settlement will be worked out with the lawyers, both the plaintiffs and defendants, or through the courts. If the case is settled out of court you are far more likely to receive money quickly than if the case is decided by a judge or jury. In these cases there are often long and complicated appeals which can tie up verdicts for years.
Is federal income tax refunds taxable?
No. Federal tax refunds are not taxable. In some cases, state tax refunds are taxable.
Is workers comp income taxable in Texas?
NO not in most cases.
Is money left to you from a trust taxable?
Yes, in most cases it is taxable. The law is different depending on the type of trust and what state you are residing in.
Does a casino hold out any taxes from your winnings or do you fill out a form?
It depends on how large your winnings are. In most cases you are issued a W-2G form showing the amount of your winnings, this is reported to the IRS and you must list it as other income on your taxes. In the case of some very large jackpots ( in the +$500,000 range) a portion of your winnings can be withheld on the spot by an IRS representative.
What type of lawyer would take a case about gender inequality?
Cases regarding gender discrimination and gender inequality are usually handled by civil rights lawyers, like Gloria Allred. They would also handle cases of racial discrimination or lifestyle discrimination.
What legal cases did Barack Obama handle as an attorney?
His expertise was in civil rights law, and he handled cases related to discrimination.
How is money awarded in a workers compensation lawsuit?
How is money awarded or decided in workers compensation cases?
What decision created new standard for judging constitutionality in gender discrimination cases?
gender
At what level of scrutiny do courts review cases involving gender discrimination?
intermediate scrutiny
Does Wentworth Finance only deal with settlement cases?
JG Wentworth does not just deal with settlement cases; they also deal in annuities and lottery winnings. If you need cash now, they are an option, but beware that you will be paying for it!
Is it legal to record a post foreclosure lis pendens by the foreclosed party. What if there is no pending lawsuit?
Since the purpose of a lis pendens is to alert future purchasers and/or mortgagees of a property about a lawsuit affecting the property, it cannot be filed in cases where there is no lawsuit. A lis pendens recorded with no reference to a pending lawsuit has no legal impact on the property and can be ignored.
The Reed decision created a new standard for judging constitutionality in these types of discrimination cases?
Gender.
