Is a workers comp settlement taxable and if so at what rate?

Asked 10 months ago - Eureka, CA

I am looking at a workers compensation settlement an someone said it was taxable?

Attorney answers (3)

  1. Daniel W Epperly

    Contributor Level 13

    6

    Lawyers agree

    Answered . My udnerstanding is that WC benefits are not taxable but you should consult a CPA and/or tax attorney if you have information to the contrary.

  2. John M Connell

    Pro

    Contributor Level 19

    6

    Lawyers agree

    Answered . no its not but you would have to check with your tax adviser if you have questions

    If this information has been helpful, please indicate by providing feedback that the answer was either "helpful"... more
  3. Bobby L. Bollinger Jr.

    Pro

    Contributor Level 17

    5

    Lawyers agree

    Answered . It is my understanding that workers comp monies paid for a physical personal injury are exempt from Federal income taxes. But check with a tax advisor to be certain.

    Or post the question here on AVVO under the "tax" category.

    This answer is intended as general information and not as specific legal advice. If you want to have a free... more

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