Tag - Do I Have To Pay Taxes on My Florida Personal Injury Award?

Do I Have To Pay Taxes on My Florida Personal Injury Award?

Do I Have To Pay Taxes on My Florida Personal Injury Award?

Anytime a personal injury victim accepts a settlement award from a claim, that financial compensation is generally not taxable by the state or federal governments. In order for their settlement award to be non-taxable, however, their losses must have been caused by an illness or a physical injury. What Part of Your Compensation Award Is Nontaxable? Any financial compensation that is awarded for losses that are the result of an illness or physical injury is non-taxable by the government. This law [...]