Are Personal Injury Settlements Taxable in Massachusetts?
You have just received a substantial settlement for your personal injury claim that includes medical expenses, future medical expenses, wage loss, property damage to your vehicle, emotional distress, and pain and suffering. However, you are concerned that the compensation you received will be heavily taxed by Massachusetts and federal tax authorities. So, will the compensation you just recovered be subject to taxes that could substantially decrease what you rightly deserved for suffering a serious injury?
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