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Phone: (312) 263-1080
The Law Offices of Barry G. Doyle, P.C.

Q:
Do I have to pay income taxes on my person injury settlement?

A:
No, you do not.

You only pay taxes on income, and the money that you receive in a settlment is compensation for injuries suffered in the accident.  Therefore, the money you receive in a settlement is exempt from income taxes.

This is also true for Illinois worker's compensation claims.
Barry G. Doyle
Illinois accident lawyer and Chicago nursing home lawyer providing FREE information to help those in need.