Can the IRS tax a settlement?

Answer The IRS can tax a settlement payment, depending on what type of damage the payment covers. The IRS differentiates settlements into physical and sickness settlements vs. contractual or compensatory.... Read More »

Top Q&A For: Can the IRS tax a settlement

Your Mother passed away 2 years ago and you are getting a settlement can credit card debt go after the settlement?

Answer Well, if they are garnishing your wages, than probably yes. What you should do is call and bargain with them to pay them off. If you owe $1,000, tell them you can pay $500. It's better j... Read More »

Can a bank offer you a settlement on a charged off auto loan and later refuse the settlement offer because you received a check from your auto insurance company to fix your car from an accident?

Answer Yes, the bank or any lending institution can withdraw any offer unless a contract has been signed by all parties.

What is a settlement?

The general definition of a settlement, according to the Oxford Dictionary, is an agreement that finishes an argument. It has a specific meaning in a variety of situations, including civil legal ac... Read More »

What does act of settlement mean?

The Act of Settlement is a British constitutional law stating that woman, Catholics and the illegitimate (those born out of wedlock) could not hold the British throne. The Act was passed in 1701.Re... Read More »