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If you get a vioxx settlement do you have to pay back your health insurance plan?
Quite possibly. Join the discussion about news and the pros and cons of the settlement with other Vioxx plaintiffs at Yahoo Groups. The group is called "MerckSettlement".
Are settlement compensations taxable?
Hi~ No, a WC settlement is non-taxable.
Is divorce decre settlement agreement taxable?
Settlement was made out of court as part of a business sale is it taxable
Do you pay taxes on auto insurance settlement for bodily injury?
No. This type of settlement is not generally taxable.
Are the penalties from a lawsuit taxable?
The penalties from a lawsuit is considered taxable income. The amount of tax depends on the amount of the settlement.
Is a worker's compensation settlement taxable income in the state of Nebraska?
no
What is the federal tax rate on an EEOC mediated settlement?
Settlements may be taxable or nontaxable, depending on the claim that's been settled. Taxable settlement amounts include interest, compensation for lost wages, etc. There's no set federal tax rate on a settlement. How much tax you'll be assessed depends on your filing status and taxable income. Taxable settlement amounts usually are entered on line 21 (Other Income) on Form 1040. For more information, go to www.irs.gov/formspubs for Publication 525 (Taxable and Nontaxable Income).
Is money from a EEOC lawsuit taxable?
Yes-if you get a settlement from the EEOC it is taxable. If it is considered wages it is taxed at the rate your wages were taxed. If it is compensatory damages it is taxed at a lower rate but it cannot exceed 50% of the settlement.
Are settlement proceeds taxable?
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 income.
Is compensatory settlement taxable?
Compensatory settlements are generally not considered taxable income. However, specific circumstances of the settlement such as punitive damages or back pay may be subject to taxation. It is advisable to consult with a tax professional for guidance on the tax implications of a compensatory settlement in your specific situation.
How many people have died from vioxx?
It is estimated that thousands of people died due to the usage of Vioxx before it was withdrawn from the market in 2004. Vioxx was linked to an increased risk of heart attacks and strokes.
Do you pay taxes on an auto insurance settlement?
I had a huge settlement from an auto insurance company and it was not taxed. However I believe that was because my attorney negotiated a type of settlement that made it non-taxable. I thnk it has to be considered "punitive damages" or something like that for it not to be taxed. Update - Generally, amounts paid for personal injury and property damage are NOT taxable. Amounts paid for punitive damages and loss of income ARE taxable.
