Does a Personal Injury settlement have to be counted as an asset in an Offer in Compromise?
- David Greene
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Let’s look at the situation where, except for the settlement, you would be eligible for an Offer In Compromise based on doubt as to collectibility. In any Offer in Compromise, the IRS will require that you count the settlement as an…
Is a monetary award for job discriminstion taxable as income?
- David Greene
- Comments Off on Is a monetary award for job discriminstion taxable as income?
Unfortuantely, a monetary award of this tyupe is considered income by the IRS. When someone is physically injured and gets a money award from settlemenet or trial, that money is not taxable. The key words here are “physical injury.” Emotional…