Many people wonder if the money they expect to receive from an insurance carrier is taxable. Generally speaking, money received from a personal injury settlement is not taxable. According to the IRS, if you receive a settlement award based on a personal injury and did not make a deduction for your medical expenses related to your injury, the full amount is not taxable. However, if you did take an itemized deduction for the medical expenses you paid in more than one year, you must include in income that portion of the settlement that is for medical expenses you deducted in prior years to the extent the deduction provided a tax benefit.
Money received for pain and suffering is not taxable unless that money did not originate from a personal physical injury.
However, money received to compensate you for your lost wages might be taxable. To make matters more complicated, the insurance company does not always categorize the settlement money. Instead, they typically issue the money in a lump sum covering all the damages that you sought. What you might consider doing is telling the insurance company that you want the release that you are to sign to say that the money is for your pain and suffering and medical bills and not your lost wages.
If you’d like to learn more, please check out this IRS pamphlet.
For better guidance, we suggest that you contact a tax attorney. If you have been involved in a car wreck and have questions about your rights and what you are entitled to, please contact one of our car accident lawyers at Carr and Carr Attorneys. We have offices in Tulsa, Oklahoma City and Northwest Arkansas. We can also visit you no matter where you live.
L-R: Lisa Jensen (AAROC Board of Directors), Ron Stout (NASSAM vehicle owner), Chris Jackson (NASSAM 2016 Co-Organizer), Chris Brinkley (NASSAM 2016 Head Organizer), Karen Brinkley (NASSAM 2016 Co-Organizer), Karen Swan (NASSAM 2016 attendee), David Jensen (son of Lisa Jensen), Jerry Swan (NASSAM 2016 Organizing Committee
Chris Brinkley, one of the attorneys at Carr & Carr, and his wife Karen are big Saturn Sky and Pontiac Solstice roadster fans. As the organizers of the 11th North American Solstice Sky Annual Meet (NASSAM) this past summer, Chris and Karen, along with a bunch of their NASSAM friends, took part in some fundraising activities to raise money for a cause about which they are passionate.
Last weekend, those efforts came to fruition when Chris had the honor of presenting a $20,000 check to the Arkansas Autism Resource and Outreach Center (AAROC) in Bentonville, Arkansas. Along with another donation, this money will allow AAROC to open two more offices in underserved areas of Arkansas that are in desperate need.
Thanks to Chris, Karen, and the whole NASSAM team for working hard to make a difference in their community!
If you are meeting with a lawyer to discuss your car accident, it is not required that you bring anything with you. However, the process can be sped up if you are able to bring with you certain things. Again, if you don’t have these things then do not worry but if you then please bring the following:
Pictures of your car damage
Health insurance information
motor vehicle insurance information
Medical bills and records
These documents can help speed the process of settling your car damage claim and obtaining information about what you may be entitled to under your own motor vehicle insurance. Call Carr and Carr Attorneys at 800-777-4878 for a free consultation. Remember, we do not get paid unless you do. We have offices in Tulsa, Oklahoma City, and Northwest Arkansas. We can also visit you at a location that is convenient for you.
Whether you are run down in a crosswalk while crossing the street, mauled by the neighbor’s dog, or rear-ended by a tractor-trailer, you might suffer debilitating injuries. Some injury victims are tempted to personally negotiate their legal claim for financial compensation with the at-fault party’s insurance company only to later realize they have made a grave mistake after receiving a lowball settlement or no recovery at all. An insurance adjuster will salivate at the prospect of taking on a self-represented party because this is akin to a little league baseball player trying to face a major league pitcher. Our experienced Oklahoma Personal Injury Attorneys at Carr & Carr, Attorneys at Law, have provided an overview of ways that a skilled and experienced lawyer can add value to your case.
Determining the Value of Your Claim
A fundamental aspect of negotiating a settlement or pursuing a verdict at trial for an injury claim involves properly estimating the value of a case. This complex process involves many factors which impact the value of a claim, such as:
severity of injury
nature of permanent disability
diminished earning capacity
strength of evidence of fault
comparative fault of the injury victim
availability of insurance
egregious nature of the conduct
amount of property damage
and a multitude of other factors.
Personal injury lawyers have experience evaluating cases based on weighing the factors that impact damages because of the large number of cases they have handled. Carr & Carr’s attorneys consider similarities and differences from our past cases, as well as facts from the current case. We also research verdicts and settlements involving similar accidents and injuries from comparable cases in Oklahoma and Arkansas.
For the inexperienced, the civil litigation process is a minefield that is extremely difficult to navigate. Whether the hurdle involves the special notice requirements required to sue a public entity or complying with the statute of limitations to avoid being barred from filing a lawsuit, the failure to navigate these procedures can have a devastating impact. A personal injury lawyer understands the legal standards that apply to a particular negligence claim, such as the standard of ordinary care for a motorist in a car accident or the higher standard applicable to a physician in a medical malpractice case. A layperson has virtually no hope of successfully working within the many technical rules that are second nature for a lawyer with extensive law school training and practice experience.
The cost to pursue a personal injury claim easily can be tens of thousands of dollars or more. Effective litigation of a tractor-trailer, medical malpractice, defective product, or other complex case involves a broad range of expenses that can include:
expert witness fees
video production costs
exhibit preparation cost
court reporter fees
and many other expenses.
Even if an injury victim can afford the cost of litigation, personal injury law firms like Carr & Carr frequently advance most or all lawsuit-related expenses.
Shifting Risk of Loss
When a personal injury lawyer decides to represent you, the law firm generally assumes the financial risk of a defense verdict at trial. Because law firms usually handle personal injury claims on a contingency fee basis, the attorneys do not collect attorney fees unless and until they obtain a settlement or judgment. This means the law firm risks not being compensated for the time and effort invested in pursuing the case. Further, your personal injury lawyer often absorbs the expenses advanced, so the entire financial risk of pursuing a legal claim in this type of lawsuit falls on the law firm.
Access to Network of Experts
Law firms that routinely represent victims of a motorcycle crash, slip and fall, rollover accident, or other type of incident causing injury will routinely work with individuals with specialized knowledge. A compelling claim frequently requires several experts in diverse areas like accident reconstruction, engineering, medical disciplines, vocational training, mental health, and more. A layperson faces an enormous challenge in locating, evaluating, and affording experts when unrepresented.
If you have suffered injury because of the negligent, reckless, or intentional conduct of an individual, corporation, or public entity, our personal injury lawyers at Carr & Carr are fierce advocates for injury victims. Our law firm is committed to holding individuals and entities accountable for unsafe acts and intentional misconduct that harms others. Our law firm has offices located in Tulsa, Oklahoma City, and Northwest Arkansas in Springdale, so call us today at 877-392-4878 to schedule your free consultation.
If you have been injured by the KEurig Brewing System then we can help you.
Keurig has recalled a their Mini Plus Brewing system after widespread reports of consumers being burned and scolded. Essentially, the defect in some of these products is that the water in the brewer can overheat and then spray out onto consumers. Due to the high temperature of the water, the user can suffer terrible burns. Generally these burns have occurred on people’s faces, hands and arms. According to Keurig, there have been over 90 reports of people being injured by this product.
According to Keurig, the defect can arise when a consumer tries to brew two or more cups in rapid succession.
Not all Keurig Mini Brewing System products have been recalled. Below is a list of the specific serial number to look for. If your Keurig has the serial number below, then your product has been recalled. If you’ve been injured by the product, it’s very important that you do not return your product to the store or discard it. Instead, stop using it and keep it in a safe place. Having the product is important to prove that it is defective.
The recalled Keurig produts were sold at K-Mart, Walmart, Kohl’s and other major retailers nationwide.
If you have been injured by the Keurig brewer, please contact one of our lawyers at Carr and Carr attorneys. We have helped countless consumers who have been injured by defective products, including defective kitchen appliances. We have offices in Oklahoma and Arkansas but we can help you no matter where you live.
Keurig MINI Plus Brewing System Serial Number Ranges
This year has been a big one for recalls in the automobile industry. Volkswagen recalled 482,000 of their diesel vehicles for cheating on U.S. emissions standards and millions more vehicles around the world were recalled for defects in their Takata airbags.
According to the Detroit car manufacturer, the airbag defect will only occur in “rare circumstances when a crash is preceded by a specific event impacting vehicle dynamics.”
The U.S. National Highway Traffic Safety Administration also weighed in on the recall, saying that “certain driving conditions may cause the air bag sensing and diagnostic module software to activate a diagnostic test.” The act of this test running is what can prevent the airbags from deploying in a crash.
Unfortunately, GM’s airbag issues have already been linked to at least one death and three injuries. The first report of a problem came in May 2016, when GM received word that a 2014 Chevy Silverado had experienced airbag failure in an accident. Not only did the driver’s front airbag not deploy during the crash, but the pretensioners designed to remove slack in the seat belt webbing during a collision did not engage either.
After receiving this initial report, GM notified Delphi, the company that manufacturers the diagnostic module in question. In June, the two companies opened an official investigation into the airbag problem. They took vehicles to the Milford Proving Grounds and conducted road testing to evaluate the severity of the issue. In August the two companies decided to recall millions of vehicles and the NHTSA announced the recall on September 9th, 2016.
GM’s Dark Recall History
This is, by no means, GM’s first experience with recalls. They issued their first major recall in 1969, when 3 million vehicles were recalled because of the potential for a loss of throttle control to occur. In 1971 they took back over 6 million cars, from Camaros to Impalas, because broken motor mounts could cause sudden acceleration. Just 2 years later, another recall for 4 million vehicles was issued after GM discovered that rocks could become lodged between the steering coupling and the frame, making it impossible to turn the vehicle left.
While this most recent recall is in no way related to the Takata airbag recalls, the Detroit car manufacturer did recall vehicles as part of the Takata airbag recall earlier this year. At the time, GM issued a recall for 2003-2005 Pontiac Vibes and the 2005 Saab 9-2X. In July, GM revealed that NHTSA may force them to recall an additional 4.3 million of their vehicles with faulty Takata airbag inflators installed.
Affected Vehicles and Repairs
The GM airbag recall affects only newer vehicles from the 2014-2017 model years. General Motors says that they will notify customers of the problem and update vehicle software for free. They believe that vehicles will be able to be repaired quickly, given that their dealers already have access to the necessary software update. Despite the number of vehicles affected, GM says that this recall will not have an impact on their financial standing.
The following is a list of affected vehicles. If you or a loved one own any of the below vehicles, discontinue use until you can contact your nearest General Motors dealer to schedule a repair.
2014-2016 Buick LaCrosse
2014-2016 Chevrolet SS
2014-2016 Chevrolet Spark EV
2014-2017 Buick Encore
2014-2017 GMC Sierra 1500
2014-2017 Chevrolet Corvette
2014-2017 Chevrolet Trax
2014-2017 Chevrolet Caprice police car
2014-2017 Chevrolet Silverado 1500
2015-2017 Chevrolet Tahoe
2015-2017 Chevrolet Suburban
2015-2017 Chevrolet Silverado HD
2015-2017 GMC Yukon
2015-2017 GMC Yukon XL
2015-2017 GMC Sierra HD
2015-2017 Cadillac Escalade
2015-2017 Cadillac Escalade ESV
If you have been injured due an airbag not working, you may be entitled to a claim. Please contact the lawyers at Carr and Carr Attorneys. We have offices in Tulsa, Oklahoma City, Northwest Arkansas and can help you no matter what state you live in.
The truth is that most cases involving car wrecks do not go all the way through a trial. Many settle without ever even having to have a lawsuit filed. However, at Carr & Carr, we do take cases to court and trial if that’s what is needed to achieve justice for our clients. Law firms that never file lawsuits or go to trial build up a poor reputation among insurance carriers and that leads to settlement offers being low. Since insurance carriers know that Carr and Carr does go to trial if that’s what it takes, we have a reputation that leads to better settlement offers.
What to do after a car accident can be complicated in terms of how to proceed. At Carr and Carr, our lawyers can work towards resolving your car crash case in a way that minimizes stress for you and puts money in your pocket so that you aren’t burdened with medical bills and lost wages.
Feel free to Contact Us. We have law offices in Tulsa, Oklahoma City and Northwest Arkansas.
The leading retail giant Wal-Mart has issued a massive recall for dresser it is selling because they are not stable and prone to tipping over. The chests are manufactured by Sauder Woodworking. The dresser poses a particular risk to young children who may try and climb up on the dresser by pulling a drawer out and standing or crawling onto the drawer. When this happens, the other drawers can come out and cause the entire dresser to tip over.
Wal-Mart says that the particular dressers that are being recalled are the dressers manufactured between April 2016 and June 2016. You can find the date your dresser was manufactured by looking at date code on the label on the back of your dresser.
If you or a loved one has been injured by this particular dresser or another type of dresser, contact us as you can bring a claim against the retail seller and the manufacturer to hold them accountable. By holding them accountable, you can help ensure that a higher emphasis is put on safe manufacturing so that future injuries are less likely to occur. Although we are located in Oklahoma, we can help you no matter where you live.
Thank you so much to the wonderful Tulsa firefighters at Station 23 on 51st Street. A few weeks ago, very early on a Saturday, they responded to a water leak in our parking lot. Thankfully, the water issue did not affect our ability to serve our clients. And fortunately for us, these professionals came to help. Here are four of the seven great guys, along with a tray of cookies and caramel peanut butter blondies to show our gratitude. We appreciate you, gentleman!
Doctors in Oklahoma are treating more and more patients with burns from exploding e-cigs. Take a look at the most recent story around this mass tort. An Oklahoma doctor has treated four patients with 3rd degree burns from exploding e-cigs.
If you’ve been injured or hurt because of exploding e-cigs or something similar, please contact the personal injury attorneys at Carr & Carr. We might be able to help you receive compensation allowed by law for damages or injuries. We work with individuals and families across the United States who have been hurt by dangerous products. It doesn’t cost you anything to call and talk to an attorney to see what options you have.
Please be aware that persons hurt by a dangerous product have only a limited period of time to settle claims or file lawsuits for damages. Those limited periods of time are determined by various state and federal laws. Failure to have all claims settled or all possible wrongdoers properly sued in court within the deadlines allowed by the appropriate state or federal laws will result in the loss of important rights. The loss of those rights includes the right to claim damages for injuries. Other rights will also be lost. Please contact us if you intend to pursue your rights to claim damages permitted before these deadlines pass.