Legal Question in Employment Law in California
If I am supposed to receive a class action lawsuit settlement check for Overtime owed from a previous employer for 5K, will I get the whole 5k or will they deduct tax off the 5k and send me the remainder?
Asked on 2/28/12, 8:36 am
1 Answer from Attorneys
It is almost certain that this is taxable income to you, so they will be obligated to withhold taxes on it. If they do not, they will most likely send you a 1099 for it and you will be responsible for paying taxes out of it.
Answered on 2/28/12, 10:45 am
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