Posted in Personal Injury on June 16, 2025
Following the resolution of a personal injury lawsuit, you’ll receive a check for your settlement amount from BD&J. However, many clients may continue to have questions on how these influx of money may impact their financial situation, especially with regards to taxes. Though the IRS does not require most settlement amounts be taxed, some compensation types are liable for taxation. REgardless, all settlements should be noted on tax returns for the year to avoid any confusion or audits form the IRS. As always, even after the closing of their cases, our clients are part of the BD&J family. If you have questions about how your settlement could impact financial situations in the future, contact our team for assistance.
