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The Young Firm
400 Poydras Street, Suite 2090
New Orleans, Louisiana 70130

Toll Free: (504) 608-6308
Facsimile: (504) 680-4101

Read About Personal Injury Law in our Legal Blog

Are Injury Settlements Taxable?

By Timothy Young on February 27, 2013

To answer this simply, no not usually.The IRS Code Section 104(c) says that money you receive from personal injury settlements is not considered gross wages to you. Therefore, it is tax free.

After we settle our clients’ cases, we generally insist that there is a reference to this code in the release. This guarantees that there isn’t any confusion when clients file their taxes. Clients can simply show their release to the tax accountant and say that because the money received was on account of a personal injury, it should not be taxable.

It is important that you discuss your settlement’s tax issues with your attorney. If they have your best interest at heart, they should know this information. If you have any questions about whether the money you receive through a settlement is taxable, just give us a call. We’d be happy to help.

Visit Our New Louisiana Automobile Accident Injury Web Site

By Timothy Young on July 11, 2010

Last month we launched our new web site dedicated to helping individuals injured in Louisiana automobile and vehicle accidents.  You can visit the web site, www.louisianaautoaccidentsattorneys.com, to learn more about your options and rights if you have been injured in a vehicle accident.

The site contains excellent information including technical articles if you have been injured by an 18-wheeler as well as simple, practical articles if you have been involved in an automobile accident in Louisiana.  The content has been created by our Louisiana injury attorneys who handle serious automobile accident cases.  Unfortunately our office does not accept small, soft tissue type cases.  We believe that these cases typically result in very little recovery for the injured party.  If you have a serious claim that you would like to discuss with our attorneys, please contact us immediately.

We hope that you enjoy our new web site focusing on Louisiana automobile and 18‑wheeler accidents.  It is another effort we are making to keep you informed of your options, rights and choices if you have been injured in Louisiana.

The most important aspect of a vehicle accident case

By admin on January 22, 2008

Most potential clients immediately tell us how the accident occurred and describe the fault of the other driver.  While this information is certainly important, the first question a person injured in a vehicle accident should ask is if there is sufficient insurance to cover their injuries.  Of the many potential clients we speak with, there are more claims that go unpaid or under-paid due to lack of insurance then there are claims that are under-paid due to lack of injuries or fault of the individual causing the accident.  You can protect yourself from this situation by purchasing uninsured motorist insurance coverage, or ‘UM’ coverage.  Some state laws, including Louisiana,  require that your insurance company MUST provide you with this type of coverage unless you specifically reject it in writing.  Talk to our attorneys if you have questions about UM insurance coverage.