Are settlement proceeds taxable?

Answer The IRS states that only settlements due to physical or emotional injury are non taxable, for instance if you received a settlement for mesothelioma.States however may tax settlements as ordinary i... Read More »

Top Q&A For: Are settlement proceeds taxable

Are Automobile Insurance Proceeds Taxable?

After you've been in a car accident, the last thing you want to do is worry about how the insurance money will affect your taxes. Unfortunately, without proper planning, you may have a tax burden y... Read More »

Are Settlement Proceeds Reportable As Income?

You have received a settlement award and, come tax season, wonder: Is this "income" for the purposes of my tax return? You are not alone in asking this question -- most legal claims end in a settl... Read More »

Are Aflac cancer insurance proceeds taxable?

According to Bankrate, you do not have to pay taxes on insurance payments unless your employer paid the premiums. This applies to Aflac cancer insurance. If you paid for it, you will not have to pa... Read More »

Are proceeds from life insurance taxable income?

On One Hand: Life Insurance Proceeds Are Not TaxedLife insurance beneficiaries are generally not required to pay income taxes on the proceeds they receive. This includes life insurance proceeds tha... Read More »