Workers Compensation Payments and Taxes
Serious injuries that occur on the job-site can be life-altering events that can cause serious health and financial issues for years to come. If a person suffers injury while performing the duties of his or her occupation, he or she may be able to receive compensation in the form of workers’ compensation benefits from his or her employer to help defray the costs of medical procedures, medication, and lost wages.
If you have been injured in a work-related accident, you may not be aware of the options available to you and the proper steps to take to file for compensation. For assistance with your workers’ compensation claim, consult a Philadelphia workers compensation lawyer of Lowenthal & Abrams, P.C. at 215-238-1130.
Taxes and Payments
Workers’ compensation payments are typically:
- Exempt from federal income taxes
- Exempt from state taxes
- Made to the individual for time loss
- Made to the medical professional on occasion for treatments
- Issued based on average weekly wage
People who are receiving workers’ compensation benefits may experience a reduction in the amount they receive as they undergo recovery and begin working again. Once the individual fully recovers and returns to work, the payments typically stop. If a person finds that he or she cannot work, the payments continue, but may begin to grow smaller as time passes without employment.
Contact a Philadelphia Workers’ Compensation Attorney
If you have been injured in a work-related accident, you may be eligible for workers’ compensation benefits from your employer. If you would like to know more, contact the Philadelphia workers’ compensation attorneys of Lowenthal & Abrams, P.C at 215-238-1130 today.