Taxation of Workers’ Comp Benefits

Taxation of Workers’ Comp Benefits

A U.S. Tax Court recently ruled that when a taxpayer’s Social Security benefits were reduced by the amount of workers’ compensation benefits received, that offset amount is treated as a Social Security benefit and is, therefore, taxable. Read more from New Orleans CityBusiness.

 

Click to read T.C. Summary Opinion 2011-44, Kevin Sherar v. Commissioner of Internal Revenue Service.