Legal Question in Sexual Harassment in Kentucky

Paying taxes on settlement

I just received a letter from the IRS saying i owe taxes on a settlement i received a few years ago. I had asked my lawyer and was told i woul not have to pay taxes on this amount Do I have to pay taxes on this?

Asked on 10/11/08, 1:24 pm

1 Answer from Attorneys

Mike Troutman Troutman & Hays, PLLC

Re: Paying taxes on settlement

It depends on what your settlement was for; personal injury is not taxable but if it was for lost wages then yes.

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Answered on 10/13/08, 9:57 am

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