INCOME TAXATION OF EMOTIONAL DISTRESS CLAIMS
by Thomas D. Begley, Jr., Esquire, CELA Questions frequently arise with respect to the taxation of emotional distress claims. As a general rule, damages for emotional distress are subject to income tax. However, a careful analysis can result in the elimination of this tax. Emotional Distress Emotional distress has been defined as a highly unpleasant emotional reaction…
A TEN-STEP ANALYSIS TO MINIMIZE THE IMPACT OF A PERSONAL INJURY SETTLEMENT ON A PLAINTIFF RECEIVING PUBLIC BENEFITS
by Thomas D. Begley, Jr., Esquire, CELA Many public benefits are means-tested and the receipt of a personal injury settlement will frequently disqualify the plaintiff from continuing to receive those public benefits. There are many public benefits, but the most commons ones are SSI, Medicaid, SSDI, Medicare, Section 8 House, SNAP (Food Stamps), and Veterans Aid…