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Clients are forever amazed that the Internal Revenue Code exempts from the definition of income personal injury awards. Believe it or not, thus has ever been the case. We are not accustomed to benefits such as this flowing to our personal injury clients.
This great advantage somehow eludes many experienced lawyers. I am often called by other attorneys who ask how “A Release Of All Claims” should read. When I get to their point, I learn that they are concerned that some amount may be attributed to loss of earnings and thereby, in this erroneous view, subject their clients to tax. As George H.W. Bush once said, “Read my lips, no new taxes.” Well, there are no taxes to be paid on personal injury awards regardless of whether some amount relates to a loss of earning capacity.
To be sure, in some tort cases Congress has altered this, such as with punitive damages and non-physical injuries i.e. where there has been gender and age discrimination. However, in the vast majority of tort cases, the exemption from income remains. So may it ever be so.
Feinberg & Alban, P.C. fervently protects your rights
Client Reviews
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5.0/5.0Colleen Santora is the kind of attorney you want in your corner. She is incredibly attentive, sharp, and thorough, but what really sets her apart is that she gets things done. When you have Colleen representing you, you know your case is not going t...
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5.0/5.0
Colleen was amazing. I appreciated her professional expertise and her dedication to helping me get a fair settlement. I am so glad she was my attorney and I highly recommend her.
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5.0/5.0
My lawyer at this firm was Colleen, she is amazing! Everything was explained to me from the beginning, timeframe was awesome. She is a very knowledgeable lawyer. I would recommend this Law Firm.
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5.0/5.0
I just wanted to drop a quick note to say thank you to Santora Colleen for securing such a great outcome on my wife case. We really appreciate all your hard work, the way you handled the negotiations, and how you kept us informed every step of the wa...
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5.0/5.0
Colleen has been incredibly thoughtful, supportive, and professional throughout every step of our case. She guided us carefully through the process, always taking the time to answer our questions and ensure we understood our options. She consistently...
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