kandyland2001
New Member
I recently received a sizeable settlement paid in compensatory damages (emotional distress) due to an employment issue. The payment was lump sump and nearly doubles my "income" for the year. The laws have flipflopped so often, I'm confused. Will I have to pay taxes on this amount- and at the heightened tax bracket?
This practice of taxing those being "made whole" seems discriminatory in itself, it will only affect those that were discriminated against or violated by their employers- therefore Uncle Sam will also be picking on them.:no:
This practice of taxing those being "made whole" seems discriminatory in itself, it will only affect those that were discriminated against or violated by their employers- therefore Uncle Sam will also be picking on them.:no:
