Is the compensation I receive through a Philadelphia construction accident lawsuit taxable?

Probably not, but to be sure, discuss your tax concerns with an experienced Philadelphia construction accident injury lawyer.

Usually, you are not required to pay tax on workers’ compensation benefits. Similarly, the IRS does not consider personal injury settlements and awards income, so they are also not taxed. However, some exceptions do exist, such as when a party receives punitive damages.

Taxes can get complicated, as most of us know. Do not assume the money you receive in connection with a Philadelphia construction accident injury case will always come to you tax-free. Always discuss any tax concerns directly with an experienced attorney.