In Illinois, any compensation or proceeds from a wrongful death lawsuit are not taxable. According to the Internal Revenue Service (IRS), any proceeds that are the product of a personal injury or wrongful death lawsuit are non-taxable. The IRS does stipulate that punitive damages can be taxed along with other non-injury settlement awards, such as interest payments involved in the lawsuit. They made this rule based on an amendment passed in 1996 as well as based on certain case law. So, the bulk of what you would likely be receiving after a wrongful death lawsuit would not be taxed. Also, punitive damages are not always awarded after a wrongful death lawsuit, so there may be no need to worry about those taxes.
We at America’s Consumer Lawyer are proud to serve our fellow citizens in personal injury cases. We are fully committed to protecting your rights and ensuring that the other party is held legally accountable when negligence occurs. We will fight until the very end to ensure that you are compensated for the losses resulting from this tragic death, and you won’t owe us anything upfront for our services.
If your loved one has died a wrongful death due to negligence, contact America’s Consumer Lawyer for a free consultation. Helping our clients is about counseling, advocating, and ultimately solving problems. We have years of experience successfully representing the people, and not the powerful. We will handle your case quickly and advise you every step of the way, and we will not hesitate to go to trial for you. Lastly, America’s Consumer Lawyer is not paid attorneys’ fees unless we win your case. Our no-fee promise is that simple. You have nothing to risk when you hire us – only the opportunity to seek justice.
