What is the name of your state? CALIFORNIA
My grandmother was involved in a Medical class action lawsuit. There were a group of doctors perfroming open heart surgery on people who did not need to have it. Anyways, She received a settlement of over $300,000. (this was not an award but a settlement, if that matters)
Her question is about taxes.Do they owe income tax on this money or some other form of tax? Is it theirs free and clear? Please advise.
My grandmother was involved in a Medical class action lawsuit. There were a group of doctors perfroming open heart surgery on people who did not need to have it. Anyways, She received a settlement of over $300,000. (this was not an award but a settlement, if that matters)
Her question is about taxes.Do they owe income tax on this money or some other form of tax? Is it theirs free and clear? Please advise.