Legal Question in Tax Law in Massachusetts
Do i have to pay taxes on this?
do i have to pay taxes on the income i made when i sued my employer for terminating me based on religious discrimination?
Asked on 4/05/07, 6:49 pm
1 Answer from Attorneys
Dmitry Lev
The Lev Law Firm
Re: Do i have to pay taxes on this?
That depends on the terms of the settlement. If the payout was in the form of past wages or future wages, then they are taxable. If there is physical injury involved, that amount is not taxable. Emotional distress is taxable at this time, though there is some litigation that may be challenging that.
Answered on 4/10/07, 12:20 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
