Do I have to pay taxes on the compensation I receive for my case?

Schiller & Hamilton Law Firm | Oct 7, 2020 | Category: Personal injury attorney in Rock Hill, South Carolina

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Address: 197 S Herlong Ave, Rock Hill, SC 29732, USA

Marchaz Marshall | Oct 7, 2020

No

Schiller & Hamilton Law Firm | Oct 7, 2020

Typically the money received as damages in a personal injury case is tax-free though there are some exceptions if the claim involves lost income or if you received taxable benefit from deducting the medical costs in a previous tax year. We would recommend checking with an accountant if there is a question as to whether taxes must be paid.

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