Are EEOICPA Benefits Taxable?
You’ve been awarded your EEOICPA benefits, so now what? We are often asked whether EEOICPA benefits are taxable as income. Although our experience is that these benefits are not taxable, we advise all of our clients to check with an accountant regarding the proper treatment of his or her individual circumstances.
But generally, our experience is that claimants find that these benefits are not taxable as income. So while we do not want claimants to rely on this post, we do expect that a consultation with a CPA will often result in a determination that the benefits are not taxable. Please leave a comment here and let us know what your experience has been!
Have More Questions About the EEOICPA?
If you have any questions regarding EEOICPA benefits, Stephens and Stephens can help. Check out our EEOICPA FAQs page for a comprehensive list of the most common questions we’ve received pertaining to EEOICPA benefits and eligibility. If you require additional information, feel free to give us a call at 1-855-336-4272 or contact us.