Today's post comes from guest author Paul J. McAndrew, Jr. from Paul McAndrew Law Firm.
- if the benefits are retirement plan benefits (this is true even if you retired due to disability)
- if part of your workers’ compensation benefit money lowers the amount you receive from your Social Security or Railroad Retirement Benefits. In that case, that the part of your workers compensation benefits is considered part of your Social Security (or RRB) and may be taxable.
Read more about "taxes" and workers' compensation:
Dec 23, 2012
Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $113,700 from $110,100. Of the estimated 163 million workers who will pay Social Security taxes ...
Jul 05, 2012
In a 5 to 4 ruling, Chief Justice Roberts validated the individual mandate as a permissible exercise of congressional power under the Taxing Clause of the US Constitution. Under 26 U.S.C. Section 5000A. The law requires ...
Jun 05, 2012
As part of the settlement agreement, AIG agreed to pay a national penalty of $100 million, and $46.5 million in additional premium taxes and assessments. The Office of Insurance Regulation (Office) will receive $5.6 million in ...