Search Site
Clients are forever amazed that the Internal Revenue Code exempts from the definition of income personal injury awards. Believe it or not, thus has ever been the case. We are not accustomed to benefits such as this flowing to our personal injury clients.
This great advantage somehow eludes many experienced lawyers. I am often called by other attorneys who ask how “A Release Of All Claims” should read. When I get to their point, I learn that they are concerned that some amount may be attributed to loss of earnings and thereby, in this erroneous view, subject their clients to tax. As George H.W. Bush once said, “Read my lips, no new taxes.” Well, there are no taxes to be paid on personal injury awards regardless of whether some amount relates to a loss of earning capacity.
To be sure, in some tort cases Congress has altered this, such as with punitive damages and non-physical injuries i.e. where there has been gender and age discrimination. However, in the vast majority of tort cases, the exemption from income remains. So may it ever be so.
Feinberg & Alban, P.C. fervently protects your rights
Client Reviews
-
5.0/5.0Nothing but ALL GOOD THINGS! Colleen always got the answers I needed when I needed them, always responded to every text and call, and did it every time with a smile (I always imagined )! When I was getting antsy, she calmed my nerves, and when I made...
-
5.0/5.0
Colleen is a Wonderful lawyer and communicated with us throughout the whole process and answered emails and phone calls in a timely manner. We highly recommend this law firm and Colleen Santora!
-
5.0/5.0
Perry Feinberg represented me in a personal injury case. He was always accessible and very clear in his communications. I was very upset when the process commenced because thinking about the accident upset me greatly, but Perry was extremely patient ...
-
5.0/5.0
Colleen Santora Has been amazing throughout this whole process. I am 100% satisfied with how she has been there and represented me.
-
5.0/5.0
I worked with Perry Feinberg, as my personal injury attorney for an auto accident, Perry was very responsive, and available to answer all my questions. They are good at communicating with you and keep you informed. I’m finally able to put this acc...
Awards & Affiliations
Contact us
