Vioxx settlement

[LCP]

Anybody familiar with what happenned and whether proceeds are taxable?

[BOB W]

Anybody familiar with what happenned and whether proceeds are taxable?

The settlement talks only about "Injury". My understanding is that injury settlements are not taxable.

[ChEAr$]

Yep, have a client who last year, i.e. 2008, received such a settlement and it was not taxable.

[Maribeth]

I have a client that has received two checks so far. The information from the attorneys indicates that it is not taxable.

Maribeth

[jimmcg]

Anybody familiar with what happenned and whether proceeds are taxable?

Per final agreement they are considered non taxable compensatory damages.