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Are personal injury settlements taxable? If you\u2019ve been in an accident, such as a car accident, you could be eligible for a personal injury settlement. This settlement, which generally takes the form of a cash payment that can be paid in a lump sum or over a period, is intended to right the negligent party\u2019s wrongs and remedy the injuries suffered by the victim. If personal injury settlements are taxable, this could significantly impact the amount the victim receives.<\/p>\n
In this blog, we answer this question and more to help you better understand the process of receiving a personal injury settlement. By understanding how the process works, including tax implications, you can better prepare yourself for what to expect when filing a personal injury lawsuit.<\/p>\n
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