News & Analysis as of

Compensatory Damages Settlement Damages

Searcy Denney Scarola Barnhart & Shipley

Wrongful Death Claims in Florida: A Guide to What You Need to Know

Losing a loved one due to someone else’s negligence or misconduct is one of the most devastating experiences anyone can endure. In Florida, the law provides a pathway for families to seek justice and financial compensation...more

Freeman Law

Are Lawsuit or Settlement Damages Taxable?

Freeman Law on

Taxpayers who suffer from physical injuries or physical sickness can generally take advantage of a special provision in the Code that makes such damages non-taxable. See I.R.C. § 104(a)(2). Generally, this can be an easy...more

BakerHostetler

IRS Reporting Requirements for Class Action Settlement Payments and Court Awarded Damages

BakerHostetler on

When finalizing class action settlements, or paying damage awards after a class action judgment, it is important to be mindful of the taxation of these payments and the related IRS information reporting requirements triggered...more

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