Taxes: Is A Class-Action Lawsuit Considered Income? Class action settlements are considered taxable income under the Internal Revenue Code, with some exceptions listed in the code.

TaxAct has agreed to settle but has not admitted wrongdoing. TaxAct class settlement: How much is it? The settlement applies to those who used TaxAct‘s online do-it-yourself 1040 tax filing ...

A Lancaster County judge has approved a class-action settlement in a lawsuit by a Lincoln woman who said her insurance company should have to cover sales tax on a vehicle that's been totaled.. In ...

In the eyes of the IRS, however, having a debt forgiven is akin to earning income. "You will be taxed on any forgiven debt over $600," debt relief attorney Leslie H. Tayne of Tayne Law Group told ...