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Posted on May 8, 2018 by

Will a New Tax on Lawsuit Settlements Impact Your Case?

You may have seen that there’s a new tax law regarding lawsuit settlements. It’s possible that if you were planning to file a case in St. Louis that this has put you off a bit. It might not make sense for you to sue if you’re not going to see much of your settlement when it’s all over. We’d like to offer you some clarity regarding this as you think about how you would like to proceed with your case.

Clarifying the New Lawsuit Tax Law

We’d like to take a moment and put your mind at ease. The new law does involve some types of lawsuits, however, it doesn’t apply to any lawsuit that pertains to personal injury. The entire amount of your recovery will remain tax free. This is great news, and it should help to encourage you to move forward with filing your claim.

Lawsuits That Are Affected by the New Tax Law

There are several types of lawsuits that are affected, and they include:

– Lawsuits against websites for invasion of privacy

– Lawsuits against financial advisers for bad advice

– Family-related lawsuits, such as those involving divorce

– Lawsuits against police officers

If you are in need of St. Louis personal injury attorneys, we’re here to help. We will fight hard for your case, and you won’t need to worry about taxes on your compensation. Contact your St. Louis personal injury attorneys for help.