income tax on lawsuit awards
I am in the process of filing a dental malprctice lawsuit. If I win the case are taxes demanded on the award?
Asked on 8/13/06, 2:43 am
1 Answer from Attorneys
Donald Field
Donald L. Field, Jr., Attorney at Law
Re: income tax on lawsuit awards
see:
http://www.irs.gov/faqs/faq-kw41.html
if there are any remaining questions your attorney cannot answer for you, you should retain a tax attorney or cpa BEFORE any settlement is reached.
Answered on 8/13/06, 10:46 am
