Do I Need to Pay Tax on a Vehicle Accident Settlement or Judgment?
May 24, 2014
Source: www.nolo.com
If you have received a settlement or judgment following a vehicle accident, you're probably wondering, “Do I have to pay taxes on that money?” The short answer is, “In most cases, no.” However, that is not a hard and fast rule, and the answer depends on the nature and circumstances of your settlement or judgment.
It is important to know that only your tax advisor can give you tax advice. The comments in this discussion will help you formulate the appropriate questions to present to your tax advisor. Only by discussing...
Court Rules Debtors Can Sue Collectors Under More Onerous State Laws
May 03, 2014
The West Virginia Supreme Court of Appeals affirmed last week that consumers can sue third party debt collectors under the state’s Consumer Credit and Protection Act (WVCCPA) – a statute that carries greater punitive damages for violators than the federal Fair Debt Collection Practices Act (FDCPA).
The ruling came June 14th in the case of Linda Barr vs. NCB Management Services Inc. and HSBC Bank of Nevada. It’s the final say on the issue unless the state legislature changes the law, which is not expected. However, if a new law were passed,...
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