Are Asbestos Cancer Settlements Taxable? What Families Should Know Before the Money Arrives
In most cases, asbestos cancer settlements are not taxable. Federal tax law generally excludes money received for a physical injury or physical sickness, covering most compensation tied to asbestos-related illness. Still, a few parts of a payout can be taxed, including punitive damages and interest. For families already juggling treatment costs and lost income, a […]