With tax season upon us, we’d like to take this opportunity to share with you just how a jury award or settlement from a personal injury suit will be looked at by the taxman.
Before legislation was changed in 1996, practically all personal injury settlements and jury awards were ruled to be non-taxable – meaning you didn’t have to pay taxes on what you were given or awarded.
A taxi driver whose decision to drive drunk resulted in the death of four people, and him being sentenced to over 40 years in prison and on the wrong end of a multi-million-dollar jury award. We’ll talk about the case in this issue. The Case at a Glance The man was behind the wheel of … Read more
A woman who experienced injuries after falling in a Lowe’s home improvement store has been awarded $13 million by a jury. We’ll talk about it in this issue. The Case at a Glance The 38-year-old mother of three was in the garden center section of a Las Vegas Lowe’s store when she slipped on a … Read more
Two separate jury awards in Seattle –reached within days of one another – have resulted in multi-million dollar awards for bicyclists who were hit by vehicles. One verdict was against the City of Seattle, while the other was against a driver’s employer.
We’ll talk about them both in this issue.
In what may be one of the largest settlements of its kind, home furniture giant Ikea has agreed to pay $50 million to the families of three young boys who died when Ikea-made dressers toppled over onto them.
The three boys all lost their lives in separate incidents – one in Minnesota, one in Washington and another in Philadelphia. All three cases involved one of Ikea’s Malm dressers, an assemble-it-yourself chest made of particleboard and fiberboard.