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4
470pitt
Level 4
August 12, 2021
Question

Client gets sick pay now the insurance company wants to offer a settlement is the settlement taxable

  • August 12, 2021
  • 2 replies
  • 15 views

Client get sick pay now the insurance company wants to offer a settlement is this settlement taxable

or does she need to find out if it is going to be on a 1099 or w-2

This topic has been closed for replies.

2 replies

qbteachmt
qbteachmt
Level 15
August 12, 2021

How has the sick pay been reported and tax treated all this time? The taxable status usually depends on who paid for the policy and if that was post-tax or pre-tax funds.

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    T
    The-Tax-Lady
    Level 8
    August 12, 2021

    Is it 3rd party sick pay from an employer provided benefit or are we talking about Workers Compensation pay?

      qbteachmt
      qbteachmt
      Level 15
      August 13, 2021

      {crickets}

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