Credit Cards, Rating, Repair Will my class action lawsuit winnings be taxable?

[130munch]

I'm the defendant in a current class action lawsuit against a credit card company that, as a result of the new credit card laws, breached their own contract w/me & others.

If I win a settlement are my winnings taxable?

 

[FlaRiptide]

If the class action settlement is comprised of punitive damages, then this would be taxable to you.

If the class action settlement is comprised only of the return of inappropriate fees, then it would not be taxable.

Thus it depends on the character of the settlement.