When it comes to personal injury claims, it isn’t surprising to find that most are settled out of court before or during the trial. Once you have accepted the settlement offer from the other party and signed a release, the case is considered closed.
After receiving the amount, as a personal injury claimant, you will have several things to consider. What comes next? Can you keep the entire amount received (excluding the attorney’s fees)? Do you owe anything to the IRS?