Just accepted a settlement agreement today, I'm in WI but do I have to pay any taxes.
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Do we pay taxes on workers comp settlements
Just accepted a settlement agreement today, I'm in WI but do I have to pay any taxes.
Junior Member
Re: Do we pay taxes on settlements in WI
I also live in WI and am in the process of litigating my claim. My understanding from my attorney is that you will not have to pay taxes on the wage arrearage part of your settlement because you will only receive 2/3 of that wage. I'm not sure about any PPD compensation or loss of future wages. I think you should ask an attorney.
Senior Member
Re: Do we pay taxes on settlements in WI
Disability payments are not considered earned income by the IRS so no taxes have to be paid.
Re: Do we pay taxes on workers comp settlements
It is not taxable.
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