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Are workers' compensation benefits considered income?
Generally, workers' compensation benefits are not considered income and do not need to be reported as income on your tax returns.
Under certain limited circumstances, a portion of your workers' compensation benefits may indirectly be considered income. If you are receiving workers' compensation benefits in addition to social security benefits, the portion of the workers' compensation benefits that reduces the social security benefits (if any) is considered social security benefits and may be taxable as income.
Contact the experienced workers' compensation attorneys at Drake & Collopy, P.C. online or call us at 312.345.0220, or toll free at 1.888.372.5355, for more information or to schedule a free consultation.
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