If I received a class action settlement for damages from a mesh implant, do I have to pay taxes on this?

Get Legal Help Today

 Secured with SHA-256 Encryption

If I received a class action settlement for damages from a mesh implant, do I have to pay taxes on this?

Asked on August 27, 2014 under Personal Injury, Rhode Island

Answers:

Anne Brady / Law Office of Anne Brady

Answered 7 years ago | Contributor

Generally speaking, no, you do not pay income taxes on settlement proceeds from product liability claims, except to the extent that the money was specifically to compensate you for lost wages due to time you missed from work because of the injury.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption