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Are Mass Tort Settlements Taxable?

Posted by on Feb 15, 2022 in Law Firm | 0 comments

Simply put, the answer is complicated and unclear. Every situation is unique, but depending on the claim’s nature and other variables, you may be required to pay taxes on your settlement award.

Because the IRS has ruled that lawsuit settlements are taxable in certain specific cases, you may need to seek the guidance of a tax professional to discern whether your particular case is taxable.

In general, income is taxable, including any money you receive as compensation for lost wages, personal injury, or property damage. If you are awarded a lump sum in your settlement, that amount may be considered taxable income.

However, if your settlement is structured as a series of periodic payments, you may only be taxed on the amount you receive in each payment instead of the total sum.

Exceptional cases

There are some exceptions to this rule. If the money you receive is considered punitive damages, it may not be taxable.

Additionally, suppose your case is settled before it goes to trial. In that case, any amount you receive for pain and suffering may not be considered taxable income, as it would be if a jury awarded you that sum.

If you have any questions about whether your mass tort settlement is taxable, you can speak to a tax professional or an attorney at, familiar with the laws and payments.

Types of Lawsuit Settlements

A decision is a formal court resolution of a dispute in which the court can order one party to pay money damages to another.

Settlement refers to a compromise between the parties. Payments are distinct from judicial adjudication and other formal hearings because they are not binding. However, judgments and settlements for tax purposes are treated similarly.

Almost always, any type of compensation is taxable, including:

  • Interest in monetary awards
  • Most payments for lost wages or lost profits
  • Damages for patent or copyright infringement or breach of contract
  • Money received for settlement of pension rights.


Most people’s attention during a lawsuit is focused on the outcome and the amount of the awarded money. People may not think about taxes while anticipating a recovery because they’re relieved that they won’t have to pay them.

You’ve already completed many tasks, including undergoing distressing rehabilitation and financial setbacks. In addition, you and your lawyer have worked hard to receive compensation that covers the total cost of your injuries.

When recovering from an accident, the last thing you want to do is deal with the IRS. The objective of this article is for you to keep as much of your settlement amount as possible to recuperate faster.

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Important Things to Keep in Mind when Buying Uninsured Motorist Coverage

Posted by on Sep 1, 2021 in Personal Injury | 0 comments

Do you have Uninsured Motorist Coverage on your car insurance policy? If not, this blog post is for you. We’ll talk about what it is and how to go about buying it. This blog post will focus on answering questions like:

  • What does uninsured motorist coverage do?
  • How much does uninsured motorist coverage cost?
  • When should I buy uninsured motorist coverage?

In most states, the driver’s car insurance company will cover other injured drivers in an accident and may not have enough coverage. This is called “Uninsured Motorist Coverage.” Uninsured motorist coverage provides a means of financial protection to you if you’re ever involved in an accident with another driver who does not have sufficient auto liability insurance protection.

That being said, uninsured motorist coverage has its limits. It only covers those people driving without car insurance (or whose insurer denies their claim). It doesn’t provide resources for injuries when someone isn’t at fault because they simply don’t have adequate car insurance policy levels while driving a vehicle. You can buy different types of uninsured/under-insured motorists coverage to protect these different types of situations.

Uninsured motorist coverage protects you from costs incurred when another driver does not have car insurance or has less than the amount required by state law to cover your losses.

Underinsured motorists coverage provides a means of financial protection if you’re ever involved in an accident with someone who is insured but doesn’t carry enough auto liability insurance limits. For example, you might get by someone driving their car with only $25,000 worth of car insurance while your claim requires at least $50,000 due to personal injury protection laws. In this case, underinsured motorist coverage would help pay out what’s owed on top of the other driver’s insufficient levels.

The best-case scenario in this direction is to talk to an excellent personal injury lawyer like Brach Eichler Injury Lawyers about different options you have to file a claim involving uninsured motorist coverage. There are many such professionals who can clear your doubts, so make sure you hire the best among them for a smooth and hassle-free experience.

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How To Make Money In The Cannabis Industry

Posted by on Sep 1, 2021 in Packaging | 0 comments

The legal cannabis industry is growing at an exponential rate. With more and more states legalizing the plant for medicinal use, it was only a matter of time before marijuana became legalized recreationally as well. The CBD market has also been on the rise due to its many health benefits, such as alleviating chronic pain or helping with sleep disorders. 

Today we will be discussing how to make money in the cannabis industry and what some of the best ways are to invest your hard-earned cash!

The first step is to get your state ID card. If you are in a legal, medical marijuana-friendly state, this will be easy enough to accomplish. However, if you live in an illegal pot-smoking area such as Ohio or Kansas, it may take some persuasion before your doctor signs off the paperwork for identification purposes. It’s best to research beforehand so that all of the necessary steps have already been done and waiting!

Once you do get approved for a cannabis-related business license, then there are plenty of options available to potential investors. You can set up shop by opening a dispensary that does not require any experience other than having capital (starting around $250k), but getting into real estate investment may be a more lucrative venture.

Starting an online store to sell cannabis can be another great way to make money in the industry. There are many sites like Etsy or eBay for you to set up shop as a seller on, and even more, websites that offer marijuana stocks that can be bought through an online broker account!

The best advice so far is to do your research before investing any of your hard-earned cash into this new market -or any other market for that matter. The more time you spend researching investing in the cannabis market, the easier it will become to make actual money out of your investments later on according to Green Tech Packaging. So, don’t hurry through the process. Take your time and invest carefully.

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Can Parents Be Held Liable For Accident Caused By A Teenager?

Posted by on Aug 31, 2021 in Personal Injury | 0 comments

If you ever meet with an accident due to someone else’s fault, be it a drug overdose, alcohol consumption, speeding, or distracted driving — you can easily drag them to court and sue them for their mistake.

But what if the driver in the other vehicle is a teenager? How can you deal with a situation like this?

This post talks about various steps you can take in case the person responsible for your injuries and property damage is a teenager.

Parental Liability For Teenage Driver’s Fault:

It’s exciting for teenagers when they get to drive a car for the first time. It gives them a sense of freedom not known before and a glimpse of how much they missed out all these years.

One thing that most teenagers forget while enjoying this phase is the amount of responsibility they have towards themselves as well as others on the road. During this period, many of them try to drive fast and break traffic rules. As a result, they cause accidents that could have been avoided. In such a situation, their parents must be held liable for their mistakes.

According to Caffee Accident & Injury Lawyers, if teenage drivers get into an accident while doing something that their parents asked, the affected party can drag the teen’s parents to the court and ask them to reimburse for all the medical bills and car repair cost. Even if the parents are not directly involved in this matter and haven’t asked a teenage driver in their family to take their vehicle out, they can still be held liable.

As a parent, you have two options to deal with this situation and save yourself from unnecessary troubles. The first option is to sit with your teenage drivers and discuss the importance of safe driving with them. You may not control how they drive, but you can at least try to influence their driving behavior by offering the right advice.

Another option is to buy a separate auto insurance policy for them so that in the event of an accident, you don’t have to face unnecessary legal issues. You can go for any of them for safety purposes, but if you want a smooth and hassle-free experience, then exercise both these options without any further delay.

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5 Steps to Take When an Accident is Not Your Fault

Posted by on Aug 31, 2021 in Personal Injury | 0 comments

You just got into a car accident. The other driver was clearly at fault, and you were able to get their license plate number. You know that there will be some hassle with insurance and the police report, but what are the next steps you should take? This blog post will talk about five steps to take after an accident where it is not your fault!

1) Call A Tow Truck:

If the car needs to be towed, call a tow truck or take your car over to the nearest service station yourself and have them do it for you. Don’t just leave it on the side of the road!

2) Get The Police Report:

File a police report to document what happened and make sure you get any information that may be important later, such as driver’s license plate numbers, other drivers’ insurance info, or contact details for witnesses.

If another person is injured, call 911 immediately, but if there are no injuries, then it can wait until tomorrow morning when the police station opens.

If the accident causes property damage, get in contact with your auto insurance company and file a report as soon as possible so they can send out an adjuster.

3) Take Pictures of The Damage:

Take photos or videos to document any visible property damages, as well as injuries that may not be immediately apparent. You can use your phone’s camera for this and upload it to social media like Twitter or Facebook so others can see what happened too!

4) Contact Your Own Insurance Company:

It doesn’t matter who’s fault the accident is; you are protected and covered under your car insurance policy! Check with them to see what they recommend you do next and how much it will cost. Some policies have a set rate for this kind of thing, but others may require a deductible first before any work can begin.

5) Consult With A Lawyer:

If you need legal advice, consult a personal injury attorney like SHW Law as soon as possible to see what your options are and how much it would cost. They can help answer any questions or concerns that may come up later on!

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Three Important Reasons Why a DUI Shouldn’t Ruin Your Life

Posted by on Aug 31, 2021 in Criminal Justice | 0 comments

If you’ve been convicted of a DUI and wonder what it will mean for your life, this post is for you. Most people think that if they get a DUI, their lives are over. In reality, there are many reasons why getting a DUI should not ruin your life.

This blog post will discuss three important reasons why:

1) Getting a DUI doesn’t necessarily mean jail time

2) You can still drive with some restrictions

3) Your insurance rates won’t skyrocket

Let’s dive in!

Getting A DUI Doesn’t Mean Jail Time:

Most people assume that if you get a DUI, then you’ll go to jail. That isn’t always the case, and many are surprised when they find out their punishment involves fines or other penalties instead of time in prison.

You Can Still Drive With Some Restrictions:

A DUI doesn’t necessarily mean that you will lose your license for life. Depending on the severity of the case, and other factors such as age or previous criminal history, a driver may apply for restricted driving privileges with some limitations (such as only being allowed to drive during certain hours of the day).

Your Insurance Rates Won’t Skyrocket:

Some people worry that if they get a DUI, their insurance rates will skyrocket. In reality, this isn’t always true- especially for those with good driving records. Your rate increase is based on your risk as an individual driver and your particular case factors (such as the number of offenses or time since your last conviction).

How To Handle DUI:

The best way is to find an experienced traffic violation lawyer or law firm like Mitchell S. Sexner & Associates in your area who can help you get the DUI reduced to a lesser offense. There are many such attorneys who are skilled in DUI defense.

All you have to do is reach out to the best among them and ask him to represent your case in the courtroom. If you do it on time without having any second thoughts, you can quickly get rid of DUI and all the troubles that it brings along.

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Securities Fraud Lawyers: An Essential Part of Investment Industry Today

Posted by on Aug 31, 2021 in Law | 0 comments

Securities Fraud Lawyers are an essential part of the investment industry today. The primary goal of this blog post is to discuss how they have evolved to meet the needs of investors and companies alike. We’ll take a look at some of the most significant cases in which securities fraud lawyers played a vital role, as well as what you can do if someone has defrauded you or your company.

How Security Fraud Lawyers Evolved?

In the early 2000s, securities fraud cases were handled primarily by state or federal prosecutors. However, in recent years a trend has emerged for these types of cases to be taken on pro-bono by nonprofit legal groups and other organizations dedicated to protecting investors’ rights. The Securities and Exchange Commission (SEC) now requires firms registered with the SEC to establish a robust compliance program and publish annual reports on their lawfulness.

What Can You Do If Someone Defrauded You or Your Company?

If you invested in a company that has defrauded you, it is critical to contact a securities fraud lawyer as soon as possible so he can investigate what happened and put together a suit against those responsible.

In most cases, companies will not do anything about resolving these types of issues until they are forced by regulators or litigation. It’s crucial for investors who have been wronged to file complaints with the Securities Exchange Commission (SEC) if applicable to help protect other potential victims from being victimized again.

When to File Complaints with SEC: It is illegal for any company, investment advisor, or dealer in securities to defraud you of your money and fail to provide the promised benefits – even if this was done by mistake. This means it’s important for investors who have been wronged to file complaints with the Securities Exchange Commission (SEC).

So, if someone scammed you or stole your money in the name of investment schemes, contact an experienced securities fraud lawyer like Erez Law as soon as possible file a lawsuit against the fraudster. Doing so on time will ensure that the culprit cannot run away with your money.

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How Much Time Do You Have to File a Car Accident Claim in Las Vegas?

Posted by on Aug 31, 2021 in Personal Injury | 0 comments

The Las Vegas Metropolitan Police Department works hard to keep the city safe. Unfortunately, accidents happen that cause injury and property damage. If you have been injured in a car accident or your vehicle has been damaged, make sure you understand your rights and use them properly. There are strict time limits for Filing a Car Accident Claim in Las Vegas- if you wait too long, you may lose out on compensation from the responsible party!

To find out how much time you have left before these deadlines expire, read this blog post!

Maximum Time Allowed To File A Claim:

You have up to 24 months to file a claim in the event of a car accident. If it has been more than 24 months since your accident, you cannot sue the party. Remember, this deadline is strict!

To file a claim, you need proper documentation of evidence that can prove you were in a car accident- such as police reports and witness statements. It’s important to keep these documents ready for when the time comes!

When Is Too Long After Your Accident?

When an individual waits too long before filing their Car Accident Claim in Las Vegas, they may be denied compensation by the responsible party if specific criteria have already been met.

  • The individual must be notified of a car accident by the responsible party within 60 days after it occurred
  • If an insurer has already compensated the individuals involved in the wreck, they may not have to pay out again
  • If there are multiple parties at fault for your injury and you wait too long before filing your claim, then only one of them will be able to compensate you if any compensation is due

If you’re unsure how much time is left on a deadline date that applies directly to you, contact a skilled personal injury lawyer like Adam S. Kutner today so that all of your questions, doubts, and queries are addressed adequately on time. There are many such professionals in the Las Vegas area; therefore, you need to be careful while moving ahead in this direction.

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What Are Common Money Issues Child Support Offices Struggle With?

Posted by on Aug 16, 2021 in Law | 0 comments

Child support is an obligation under which one of the partners having a better financial condition is liable to pay a fixed amount of money every month to another partner after a divorce. This money is to be used for their child’s upbringing and taking care of expenses like education, clothes, medical, etc. 

The office of Child Support Enforcement or OCSE, a government department, looks after the child support program and makes necessary arrangements to make things fall in line. 

Money Issues In Child Support Programs:

At the time of the divorce, the judge clarifies that the earning member of the family (the male member in most cases) will have to bear child support money every month for a fixed term. If he disagrees to do that in the future for any reason, he may lose his driver’s license, his tax returns can be seized, his credit facility takes a dive, or he may be sent to prison. 

While these are serious charges and can force anyone to pay child support payments without fail, many earning partners refuse to comply with court orders. They claim that their financial situation has worsened, job lost, or business shut down after the divorce, so they are not in a condition to make the child support payments anymore. 

Each year, many earning members make such claims, after which the OCSE has to get involved and see what can be done for the affected party. Unfortunately, legal processes take time to get results, which most single mothers with unstable income don’t have. 

If you can relate with this scenario and believe that your partner has stopped sending child support payments midway, you need to have a word with any legal representative of and see what options you have to legally force him to resume payments. The sooner you do it, the easier it will become for you to manage your finances in a hassle-free way. So, don’t waste any time trying random options. Talk to an expert lawyer today for instant help.

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Bad Driving Performance and Employer Negligence: Major Causes of Truck Accidents

Posted by on Oct 6, 2016 in Automotive Accidents | 0 comments

Bad Driving Performance and Employer Negligence: Major Causes of Truck Accidents

According to the Federal Motor Carrier Safety Administration, fatal truck accidents happen almost 11 times a day; this translates to more than 100,000 injuries and more than 4,000 deaths every year. These numbers are despite the facts that both the US Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) and Federal Motor Carrier Safety Administration (FMCSA) have created laws and strictly enforce these laws that are directed towards achieving significantly reduced road accidents involving trucks.

If federal and local government agencies, and traffic enforcers remain determined in their pursuit of ensuring safety on the road, though, then how is it that the number of truck accidents still remains so high? The answer is a combination of bad driving performance and company or employer negligence.

With regard to bad driving behavior, it has been discovered that many truck accidents are caused by drivers with multiple violations and who have very recently received warnings from their safety officers; despite these violations and warnings, they have been allowed to continue operating their vehicles.

In 1986, the Commercial Motor Vehicle Safety Act, which strictly mandates the removal of bad drivers from the road, was passed into law. Allowing drivers to continue operating a truck despite multiple traffic violations, especially a DUI or driving under the influence (either of alcohol or drugs), is a clear violation of this law, to which drivers, safety officers and employers must answer.

On the issue of company or employer negligence, the Department of Transportation has revealed that many small truck companies, to be able to continue with their operations, simply re-register under a new name and change their corporate structure in order to evade liability for accidents wherein their drivers are at fault, and escape legal responsibility for company violations of federal laws.

Unlike cars and SUVs, a semi-trailer, also called a big rig or an 18-wheeler, can easily damage smaller vehicles, crushing these like tin cans and severely injuring or killing all their passengers. Accidents, injuries and deaths are not just statistical data. In each accident, many lives are affected: the lives of victims and of the members of their respective families. It will be in the best interest of victims to get in touch with a highly-skilled personal injury lawyer (as soon as possible) after an accident occurs for them to immediately receive justice and the compensation which the court may find them worthy to claim.

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