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Are Workers’ Comp Benefits Taxed by the IRS

Workers’ comp is something most people joke about when they get a papercut at work, but for people with actual injuries, the concept is very important. They need workers’ compensation to pay their medical bills and make up for their missed wages. Unfortunately, employers and insurers don’t want extra bills hurting their bottom line, so they may be inclined to deny your claim. If this happens, you need to file a suit to get what you’re owed, but the process is highly complex.

In order to properly navigate the confusing litigation process, it’s a good idea to hire a workers’ comp attorney. Workers’ comp attorneys like those at Parrish DeVaughn Law Firm have experience in facing teams of lawyers representing insurance companies. Learn how Parrish DeVaughn Law Firm can help your Oklahoma City, Edmond, or Tulsa case and get you what you’re owed.

When You Should Call

Not all employers are greedy. Some will happily grant you workers’ comp with the sole intention of you recovering from your injury. Problems only arise when your workers’ comp claim is denied. When this happens, you have to take the issue to court. Your employer and their insurer are going to have more resources than you, so you should call a workers’ comp attorney like those at Parrish DeVaughn Law for help.

The most common costs that accompany workplace injuries are medical bills and lost wages. If you’re injured to the point where you can’t work, you’re entitled to the pay you would’ve earned if the injury didn’t happen. Medical expenses can cost everything you have, so you need the proper coverage.

Other issues arise when your employer is particularly vindictive. If they retaliate against you for your claim, Parrish DeVaughn Law Firm can show you how that will greatly help your case. They might cut your hours or slash your wages. They could take away vacation time or even demote you. All of these unfair practices can be brought up in court, so call Parrish DeVaughn Law Firm for help.

How Your Lawyer Helps

At the end of the day, getting the money to cover your medical expenses and lost wages is the top priority. This is why Parrish DeVaughn Law Firm works rigorously to get you what you deserve. They will accurately evaluate how much your case is worth. Without a workers’ comp attorney, you could be evaluated by a physician in the pocket of the very same insurance company your claim is against!

The legal system is somewhat rigged in favor of insurers and employers since so many aspects of your case are taken care of by third-party people who are actually working for the insurers. Parrish DeVaughn Law Firm makes sure you stay away from that, and builds a case based on the truth and your needs. You don’t have to feel intimidated by insurance company lawyers. Parrish DeVaughn Law Firm has years of experience going against them in Oklahoma City, Edmond, and Tulsa.

Your workers’ comp lawyer can also help you navigate the taxes after you earn your money. If you’re not receiving social security disability benefits, you likely don’t have to worry about taxes at all. If you are though, your benefits could decrease. Fortunately, there are ways to reduce the cuts to your benefits. Spreading the lump sum paid out over time decreases your monthly earnings compared to receiving the payments on a shorter time frame. If your earnings go under a certain limit, tax deductions aren’t as severe and sometimes aren’t present at all. Parrish DeVaughn Law Firm can help you navigate these tax issues.

Workers’ Comp Attorney in Oklahoma City, Edmond, and Tulsa

The highly-trained professionals at Parrish DeVaughn Law Firm are the best choice if you need a workers’ comp attorney. With their experience, you stand in a significantly better position to get the compensation that you’re owed in your Oklahoma City, Edmond, or Tulsa case. Contact Parrish DeVaughn Law Firm online using their free consultation form today!