Oct
30
CURIOUS GEORGE
I am preparing to make a big lawsuit, my case is strong and my lawyer is very experienced. If I win a lot of money, do I have to pay any federal or state taxes on those punitive damage earnings? I live in Texas.
I am preparing to make a big lawsuit, my case is strong and my lawyer is very experienced. If I win a lot of money, do I have to pay any federal or state taxes on those punitive damage earnings? I live in Texas.
Sep
10
Are the settlement funds taxable from a lawsuit over the rental income?
Filed Under United States | Leave a Comment
¿µº¹
We will received a settlement from a lawsuit over the rental income.
Are the settlement funds by company a considered taxable income for business and occupation tax purposes?
If it will be “Yes”, what is this settlement subject to the B & O tax?
We will received a settlement from a lawsuit over the rental income.
Are the settlement funds by company a considered taxable income for business and occupation tax purposes?
If it will be “Yes”, what is this settlement subject to the B & O tax?
Sep
7
hpx645
I have heard the IRS has a lawsuit against MPRI, a subdividson of L3 Communications reference Private Contrators in Iraq. MPRI claims they are Private Contractors and IRS claims they are employees. As contractors, MPRI does not pay taxes on them as they would if declared employees.
I have heard the IRS has a lawsuit against MPRI, a subdividson of L3 Communications reference Private Contrators in Iraq. MPRI claims they are Private Contractors and IRS claims they are employees. As contractors, MPRI does not pay taxes on them as they would if declared employees.
Aug
23
Ty
There is a lawsuit won that is 3 million dollars and the money will be divided between the children. If each child gets $400,000 dollars, would each individual have to pay their own taxes or would the tax have to be paid off the top?
There is a lawsuit won that is 3 million dollars and the money will be divided between the children. If each child gets $400,000 dollars, would each individual have to pay their own taxes or would the tax have to be paid off the top?
Aug
20
If I received a settlement for a lawsuit filed against my employer for harassment, do I have to pay taxes?
Filed Under United States | 4 Comments
Andy
I will receive a large settlement check from a harassment lawsuit filed against my employer. The damages which the settlement is from is emotional and physical distress. I’m not sure if I will be paying taxes for that amount. Does anyone know?
Actually, this includes physical injury, physical and emotional distress.
I will receive a large settlement check from a harassment lawsuit filed against my employer. The damages which the settlement is from is emotional and physical distress. I’m not sure if I will be paying taxes for that amount. Does anyone know?
Actually, this includes physical injury, physical and emotional distress.
May
29
QuestionsAnswered
I am trying to recoup costs of a car which I purchased last year. Basically it costs a decent amount of money (30,000) and I wish to attempt to sell tickets for a raffle which would allow the winner to then own the car and I would keep the raffle money. Im not sure if that is legal in the state of New Jersey, so I wanted to see if anyone knew if this was possible. Thanks for your help.
I am trying to recoup costs of a car which I purchased last year. Basically it costs a decent amount of money (30,000) and I wish to attempt to sell tickets for a raffle which would allow the winner to then own the car and I would keep the raffle money. Im not sure if that is legal in the state of New Jersey, so I wanted to see if anyone knew if this was possible. Thanks for your help.
May
6
C. K
In 2005 I had $20k+ in legal fees for a lawsuit with a builder who failed to complete a home. The home was to contain my office and workshop for my business. Can these expenses be deducted on an amended return? I can’t seem to get a straight answer from a typical tax preparer and no reply from the IRS. Thanks.
In 2005 I had $20k+ in legal fees for a lawsuit with a builder who failed to complete a home. The home was to contain my office and workshop for my business. Can these expenses be deducted on an amended return? I can’t seem to get a straight answer from a typical tax preparer and no reply from the IRS. Thanks.
Apr
14
Is a physical injury lawsuit settlement taxable if it is paid out to heirs?
Filed Under United States | 3 Comments
_Jill R
The person who filed the lawsuit died and his children received the settlement. Will they owe taxes on it?
It was paid out in a lump sum.
The person who filed the lawsuit died and his children received the settlement. Will they owe taxes on it?
It was paid out in a lump sum.