{"id":17910,"date":"2021-04-06T14:35:32","date_gmt":"2021-04-06T18:35:32","guid":{"rendered":"https:\/\/www.mesotheliomahope.com\/?page_id=17910"},"modified":"2025-12-29T09:34:16","modified_gmt":"2025-12-29T14:34:16","slug":"taxable","status":"publish","type":"page","link":"https:\/\/www.mesotheliomahope.com\/legal\/settlements\/taxable\/","title":{"rendered":"Are Mesothelioma Lawsuit Settlements Taxable?"},"content":{"rendered":"

Are Mesothelioma Settlements Taxable?<\/h2>\n

Mesothelioma and asbestos settlements are typically not considered taxable income.<\/strong><\/p>\n

The IRS doesn\u2019t tax any mesothelioma settlement<\/a> amounts awarded for physical injuries or illnesses like mesothelioma.<\/p>\n

However, compensation from punitive damages sometimes awarded in verdicts to punish those who caused harm is taxable. That said, almost all mesothelioma lawsuits reach settlements, so punitive damages are seldom an issue.<\/p>\n

To learn how much of your mesothelioma compensation (if any) could be taxed, work with a skilled asbestos lawyer<\/strong>. The best lawyers can secure a substantial payout on your behalf and explain whether or not it will be taxed.<\/p>\n

Look no further than our legal partners at Simmons Hanly Conroy \u2014 one of the best mesothelioma law firms in the nation \u2014 for help with your case.<\/p>\n

The firm\u2019s lawyers have recovered over $10.3 billion <\/strong>for mesothelioma victims and can answer any of your questions about mesothelioma settlements. Get a Free Case Review<\/strong> to learn how Simmons Hanly Conroy may be able to help your family.<\/p>\n