In any type of settlement, you should always ask your attorney before the settlement this question. Most attorneys are going to direct you to speak with your accountant, and you should do so before you settle the case so you understand what the ramifications are. If your injuries are exclusively personal injuries, then the answer is you will not have to pay taxes. However, many times people think that their injuries are solely personal injuries, and they might incorporate economic factors, and so, in those situations, you will need to pay a certain amount of taxes on the settlement.

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