Has anyone had a government settlement that in their letter it states that Internal Revenue Code 468B applies. No 1099 will be filed on this settlement. Is it taxable?

[Anonymous]

The settlement from a class action suit due to release of dangerous stuff from a plant that made atomic triggers that depressed property values won in a class action suit.

[Carl]

The settlement is not reported on your tax return and isn't taxable on your federal return. Can't speak for the state return though. Cornell University has a fairly decent write up at https://www.law.cornell.edu/uscode/text/26/468B concerning IRC 468b settlement payments.