Talk of The Villages Florida - View Single Post - Attorney Dan Newlin
Thread: Attorney Dan Newlin
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Old 02-05-2022, 06:50 AM
spinner1001 spinner1001 is offline
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Quote:
Originally Posted by rhood View Post
A couple of questions about the huge awards he claims to get for his clients:
1. Are the awards taxable ?
2. What is Dan’s cut ?
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The tax law is specific about taxation of settlements and court awards. In short, settlement proceeds and awards related to personal physical injury or personal physical sickness are not taxable and other settlement and award amounts are taxable (e.g., for lost earnings, punitive damages).
You might Google for the IRS documentation about taxation of settlements for personal injuries for details.