Anniston PCBs

By: Associated Press
By: Associated Press

Current and former Calhoun County residents who received a big check as part of the PCB lawsuit may have to fork some of that money over to the government.

A spokesman for the Internal Revenue Service, Dan Boone, says the amount -- if any -- that's due in taxes will be based on the amount of investment in property that was contaminated by the chemicals.

Boone says it's a complicated matter -- and the best way to resolve it is to contact the IRS over the phone or the Internet.

Boone says damages received for physical injury generally are NOT taxable. But damages for emotional distress or mental anguish may be subject to income tax.

WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 636277 -
Gray Television, Inc.