Workers compensation benefits are not taxable. When you are receiving W-2s and 1099s from your employers, you will get nothing from the insurance company because it's not taxable income. You don't have to declare it as income because it's a disability benefit. Talk to your accountant if you have one. Make sure he or she is familiar with IRC 104. https://www.law.cornell.edu/uscode/text/26/104
Keenan Powell has practiced Workers Compensation law in the State of Alaska for over 35 years and has dedicated her practice to Workers Compensation representing injured Alaskans handling hundreds of cases. www.keenanpowell.com.
All consultations are free. To make an appointment, email: keenan@keenanpowell.com or call: 907 258 7663.