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Is a Settlement Payment Taxable?

The IRS has a policy of not taxing personal injury settlement funds. Although these funds may be viewed as additional income in layman’s terms, the government’s more specific definition of taxable personal income does not include personal injury settlements. However, this may become more complicated if a person receives funds for back or lost wages, which can be taxable.

For more information concerning taxes and personal injury settlements, contact the Denver personal injury lawyers of Hull & Zimmerman, P.C., by calling (303) 423-1770 today.

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Our personal injury attorneys have decades of experience defending the rights of injured Coloradans, and use their vast legal knowledge to offer you zealous and unmatched representation. We understand how important your lawsuit is to you, and we are dedicated to handling your claim with the compassion you expect. Located in beautiful Northglenn Colorado, we proudly serve the North Denver communities including but not limited to Westminster, Thornton, Commerce City, Arvada & Broomfield.