The different changes in the laws that have taken place under our current administration are difficult to understand for a lot of people. For one, untaxable jury settlements might become taxable. There are a lot of people who are not happy about this change.

Haven’t Personal Injury Claims Always Been Taxed?

In short, the answer to this is no. Jury settlements that are awarded to victims have always been tax-free. These types of claims include:

– Car accidents

– Truck accidents

– Slips and falls

– Dog bites

– Nursing home abuse or neglect cases

The belief has always been that whenever someone becomes a victim because of the negligence of someone else, the compensation they receive should not be taxed. But under President Trump’s new tax law, that is no longer the case.

Taxing Personal Injury Case Settlements

The tax-free nature of these settlements only applies to the compensatory damages that are paid out. It does not apply to any interest or punitive damages. Cases are only labeled tax free when there has been a physical injury.

Working With St. Louis Personal Injury Attorneys

This is just one reason why it’s best work with St. Louis personal injury attorneys during your case. We understand what the law says about it, and we can guide you through the entire process. This is not something you need to go through alone. We will fight hard so that you are compensated fairly.