Are Personal Injury Lawsuit Settlements Taxable?

The tax implications of personal injury settlements can be confusing, but Munley Law is here to help. Let our legal team at Munley Law Personal Injury Attorneys provide the clarity and expertise you need to handle your personal injury claim settlement with confidence. We will guide you throughout the process of your lawsuit as well as any tax implications. Talk to a personal injury attorney at Munley Law today for a free consultation.

Are Settlements Taxable?

Under the Unites States’ federal tax law, personal injury settlements are generally not taxable. The Internal Revenue Service (IRS) exempts these settlements from taxation to safeguard injured victims seeking compensation from additional financial stressors.

Non-Taxable Components of Personal Injury Settlements

“The amount of any damages (other than punitive damages) received…on account of personal physical injuries or physical sickness [are exempt] (IRC, […]

How Long Does it Take to Receive My Personal Injury Settlement?

If you or a loved one have been injured due to someone else’s negligence, you know how overwhelming an accident’s aftermath can be. Managing medical appointments, financial losses, and daily tasks can be exhausting. Maintaining financial stability for your family may seem impossible, and you are wondering when a settlement is reached, how long it will take to get paid? Compared to the time it takes to settle a claim, the wait for payment is usually short. Once your claim settles, you can receive the money within a few weeks.

At Munley Law, we understand the financial burdens you are facing. Our personal injury lawyers will work hard to make sure you receive your settlement check in a timely fashion. Contact our personal injury law firm today to schedule a free consultation.

Steps Involved in Receiving a Personal Injury Settlement

A formal settlement agreement is created once both parties agree on a settlement. […]

How Much Is a Back Injury Worth in an Accident?

Dealing with the aftermath of a back injury from an accident on the road, during your commute, or at work can be challenging. It’s difficult to estimate the cost of your recovery and future care. An experienced personal injury lawyer can help. They will assess your situation, gather the necessary documents, like medical bills and lost wages, and consider your pain and suffering. They will then determine a fair value for your personal injury claim.

Munley Law Personal Injury Attorneys has over sixty-five years of experience with back injury accident claims. We have the resources to help our clients file a claim and receive maximum compensation. Contact one of our skilled attorneys at Munley Law Personal Injury Attorneys today for a free case evaluation.

How Much Is the Average Settlement for a Back Injury?

The Occupational Safety and Health Administration (OSHA) reports back injury claims to average between $40,000 and $80,000. […]

What is Workers’ Comp Mediation?

What is Workers’ Compensation Mediation?

If you’re injured on the job in Pennsylvania, your workers’ comp lawyer will discuss with you the role a workers’ compensation mediation plays in your litigation process. Even if you are familiar with the Pennsylvania workers’ compensation mediation process, you might not understand how the settlement conference affects your claim, or the compensation you need for your injuries. Learning the basics of a workers’ comp mediation beforehand can give you the advantage you need, so you can obtain the outcome you want.

Your workman’s comp attorney will prepare you for your mediation conference and answer any questions you may have ahead of time. However, the following information will guide you through a Pennsylvania workers’ compensation mediation from beginning to end, giving you an expert’s view on the proceeding. […]

The Impact of Social Media On Personal Injury Cases

If you have suffered or taken any injuries in personal cases, social media can be used effectively to provide evidence of these injuries. Because social media has become a critical part of our daily lives, it allows us to share our thoughts, experiences, and, more importantly, our injuries with a broad audience. In personal injury cases, social media platforms such as Instagram, Twitter, Facebook, TikTok, and even Snapchat can significantly impact the outcome of your lawsuit and future legal proceedings.

One of the most common ways social media is used in personal injury cases is during discovery. Discovery is the process where both parties involved in a lawsuit gather information and evidence from one another to strengthen their case. This commonly includes requesting documents and gathering information from social media accounts and posts.

Insurance companies and defense attorneys will usually search the social media profiles of various plaintiffs to find any evidence that may go against or contradict their claims of injury. […]