Workers Comp Income Tax Question

by John
(Pgh., PA)

Workers Comp Income Tax Question

Workers Comp Income Tax Question

I received a settlement in a worker's comp case and want to know if it is taxable Federally and in PA?

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Jan 20, 2024
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by: BB

In general, workers' compensation settlements are not taxable at the federal level. The Internal Revenue Service (IRS) typically considers these settlements as compensation for a physical injury or sickness. However, it's crucial to consult with a tax professional to ensure that your specific settlement falls within the non-taxable category.

For Pennsylvania state taxes, workers' compensation benefits are also generally not subject to state income tax. Pennsylvania follows federal guidelines in excluding these benefits from taxable income.

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Workers Comp

by Aaron
(IL)

I received workman's compensation for the entire year(2011) with no other income. I received 2 tax forms. A 100-G stating I earned $263 in interest(bank) and a Mortgage Interest Statement stating I paid $5673 in mortgage interest.

I know that interest income is taxable and mortgage interest is a write off. Do I have to file? If so would I be entitled to a refund for some/all mortgage interest?

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Workmans Compensation

How do I handle my workmans compensation checks when filing my tax report for 2010?

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Workers Compensation and Taxes Florida

by Joanne

I have been on Workers compensation for the better part of 2011, I worked a few weeks earning 1500, in 2011. I have a child. I have always recieved a large income tax check because I don't earn a lot and have a child.

I know that they took out something from my workers compensation checks(just not sure if it was toward taxes). What am I supposed to have form wise when I file my taxes( And where do I get them from)?

And, Will any of the workers compensation count? Should I expect that I will recieve a much smaller refund check?

Thank You, Joanne

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