Is My Personal Injury Settlement Taxable?

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Is My Personal Injury Settlement Taxable?

If you live in Pennsylvania, and were injured as a result of another’s negligence, your personal injury settlement is non-taxable.

At the time a Pennsylvania personal injury attorney settles your case (Wrongful Death and Survival case settlement is slightly different), the team at the Biscontini Law Firm will carefully review how much money you will receive in your pocket. During the settlement phase, our personal injury settlement team will fully educate you on Pennsylvania and Federal tax law as it relates to your personal injury settlement.

This rule on owing no tax should apply to any personal injury settlement, car accident settlement, medical malpractice settlement, Workers Compensation settlement and any other similar Pennsylvania personal case settlement.  Although the tax code is ever changing, Attorney Biscontini and the personal injury team at the Biscontini Law Firm will thoroughly review your settlement with you.

Example 1:

Driver 1 is seriously injured after being broadsided by Driver 2 while on an off ramp from interstate 81 in Scranton, Pennsylvania. Driver 1 suffers a fractured shoulder and torn rotator cuff.  Driver 2 is uninsured at the time of the crash.  Driver 1 makes an uninsured motorist (UM) claim against his car insurance company, USAA.  Driver 1 settles his car accident case for $300,000.00.  After counsel fees, Driver 1 will not pay any tax on his net settlement money.

If you or someone you know has been seriously injured, call the Biscontini Law Firm to schedule a free personal injury case evaluation at (570) 283-7777.  The Biscontini Law Firm is conveniently located in Kingston, Pennsylvania, minutes from the Luzerne County Courthouse.

 

Disclaimer

The information obtained in this website or the page Is My Personal Injury Settlement Taxable? is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual and unique situation. Our office invites you to contact us to set up a free consultation with an attorney to review your potential matter. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to our office until such time as a formal attorney-client relationship has been established.

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PERSONAL INJURY

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workers compensation

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