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  1. #1
    Join Date
    Feb 2012

    Default What is Reportable Income

    If I am awarded a settlement that taxes are deducted from, even though I did not work for it, would this be considered reportable income to ssa and w/c? If so, would this affect ssdi and w/c?

  2. #2
    Join Date
    Feb 2007

    Default Re: What is Reportable Income

    Several issues there...
    Settlement from a WC claim is NOT taxable...nor would there be taxes deducted.
    Reportable income is that which you receive a form W-2 or 1099. Neither of those are provided by WC.

    Lump sum cash settlement could/will affect your SSDI if the language is not such as to minimize offsets.
    A cash lump sum settlement would definately affect your WC benefits...they will stop.

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