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Personal Injury Settlements and Taxes

W are often asked if a personal injury settlement is taxed?

We are not a tax firm, and the answer can be complicated (and depends on the type of case).  The normal rule is that bodily injury settlements are NOT taxable, but does need to be declared on your tax return.  Now that tax season is here, we recommend that you talk to a qualified CPA, tax preparer or lawyer to discuss this issue.