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I got ahold of customer service messaging system and told them my issue. Within 5 minutes I had someone already solving my issue and refunding me. The fact that their customer service was so on point with having no way to call. Actually impressed me. Thank you guys. You have my recommendation.
2019-09-18
Extremely Useful, Slightly Non-Intuitive
Love the program/service/software and all its online functions, including the US Legal Forms integration for documents like wills and trusts. But it is a little clunky/non-intuitive in terms of user experience and interaction–be prepared to spend time clicking around to find not only your own documents, but also the service's libraries. Looking forward to integrating with third-party/external cloud storage.
2024-01-19
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2021-12-07
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2021-08-09
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2021-02-11
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2020-12-24
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2020-11-10
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2025-05-02
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Are lawsuit settlement proceeds taxable?
If you receive money from a lawsuit judgment or settlement, you may have to pay taxes on that money. After you collect a settlement, the IRS typically regards that money as income, and taxes it accordingly. However, every rule has exceptions. The IRS does not tax award settlements for personal injury cases.
Are proceeds from a settlement taxable?
If you receive a settlement for personal physical injuries or physical sickness and did not take an itemized deduction for medical expenses related to the injury or sickness in prior years, the full amount is non-taxable. Do not include the settlement proceeds in your income.
Are proceeds from lawsuit settlement taxable?
If you receive money from a lawsuit judgment or settlement, you may have to pay taxes on that money. After you collect a settlement, the IRS typically regards that money as income, and taxes it accordingly. However, every rule has exceptions. The IRS does not tax award settlements for personal injury cases.
How much taxes do you pay on a settlement?
Taxes on Lawsuit Settlements. The tax liability for recipients of lawsuit settlements depends on the type of settlement. In general, damages from a physical injury are not considered taxable income. However, if you've already deducted, say, your medical expenses from your injury, your damages will be taxable.
Is emotional distress settlement taxable?
Emotional distress even though it includes physical symptoms such as insomnia, headaches, and stomach disorders is not considered a physical injury or physical sickness. Therefore, settlement and award payments arising from claims for emotional distress are generally taxable.
Do you have to pay taxes on EEOC settlements?
CAPABILITY OF SETTLEMENTS IN EMPLOYMENT DISCRIMINATION CASES. Proceeds from a settlement involving an employment-related discrimination case may be taxable to the employee under some circumstances and not taxable in others.
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