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The tax rules for legal awards and settlements: What recipients should know | Hoberman & Lesser
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The tax rules for legal awards and settlements: What recipients should know | Hoberman & Lesser
If you’ve recently received a settlement or award from a lawsuit, or you’re expecting one, you may be wondering how the IRS views this money. Will you need to pay taxes on it? The short answer: It depends on the type of damages you received. Understanding the basic rules can help you avoid surprises. Taxable
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