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Retirement tax questions

I received an award from US Victims of State Sponsored Terrorism Fund. My attorney received his 25% and I received my award. Is this money taxable?

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Retirement tax questions

The money came from a lawsuit, because my brother was killed on 9/11.  Is this money still tax-free?
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Retirement tax questions

has this been impacted by the Trump tax law?
Employee Tax Expert
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Retirement tax questions

This has not been changed by the new tax law.
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Retirement tax questions

Is there a ruling from the IRS on this, or something else in writing that we can rely upon?
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Retirement tax questions

Awards from this fund are for personal injury and are not taxable.

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Retirement tax questions

I am curious to know if you were part of just round 2 of the distribution, and if you in fact received 5% of the 8.5 million judgement? Did you receive this payout right at the beginning of January? When were you notified what amount you were going to receive? Did the money go through an account set up by your attorney? 

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Retirement tax questions

Hi , I am the daughter of a 9/11 victim . I am wondering if you ever received an answer to you question as I have the same tax question and no one seems to know the answer 

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Retirement tax questions

Hi, did you ever get a response on this. I am wondering the same.

Employee Tax Expert
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Retirement tax questions

According to the United States Victims of State Sponsored Terrorism Fund, this money is paid out as compensatory damages for victims of terrorism. In a wrongful death case, the damages are caused by personal physical injuries, which the IRS does not tax. As MinhT responded above, this money isn't taxable. I'm sorry for your loss. 

 

 

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Thk u.... i wonder if the same hold true in a state level ??? New york? Thank you for your condolences.❤

Employee Tax Expert
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Retirement tax questions

 You're welcome. Yes, NY has the same rules relating to personal injury settlements

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