ATTORNEYS AT LAW

Before You Visit

Please check the CoTrip.org website for the latest in closures. Contact Kaufman & Kaufman at (970) 945-2396 if you need help navigating the area to your appointment! 
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“Will I Have to Pay Income Tax on This Money?”

Colorado Workers Compensation Attorneys

Are you worried about the risk of being audited if you don’t claim your workers compensation settlement on your income taxes?

Did you already file your income taxes without this important information and are concerned?

Do you have questions about how to report your income correctly on your tax return after receiving a workers compensation settlement in the last year?

According to the IRS, you don’t have to pay income taxes on benefits paid under workers' compensation in the state of Colorado. If your tax adviser wants to know the amount, you can explain that the benefits are non-taxable income. Of course, consult your accountant with tax questions to avoid additional liability and how to report as non-taxable income.

IRS Publication 907 states: "The following payments are not taxable ... Workers' compensation for an occupational sickness or injury if paid under a workers' compensation act or similar law." It’s common to be concerned about filing your income taxes correctly. It can be a stressful time of year, so our attorneys want to relieve some of that pressure and help you in any way we can.

 

How to Contact Experienced Colorado Workers Compensation Attorneys!

If you have questions about taxes and workers' compensation, speak to our experienced Colorado workers compensation attorneys today! We make sure you and your case get the attention you deserve!

The initial consult with our office is free! If you have a question or concern about your claim for Colorado Workers' Compensation, please set up an appointment with us to discuss your rights.

Hurt at work? Need money?

Get help now!

Contact us anytime, on weekends, or after hours! We'll return your call the next day. Please include a phone number or email address. We will keep your information strictly confidential.

"Kaufman and Kaufman was extremely professional in my case. They set appointments as often as I requested which was often weekly or more. They handled all the problems that came up and ended up settling my case for more than I expected. I was very happy with the result."

- Jeff (2015)

"I’ve known the folks at Kaufman and Kaufman for more than 30 years. Correct - I said 30 years. The Kaufman’s have *always* done the right thing, especially when it’s not easy. Trust, in 2022, is hard. Trusting the Kaufman’s, in 2022, is simple."

- Jeff W. (2022)

"Kaufman and Kaufman represented me in a workman’s comp case and I couldn’t be happier with their service. They were very professional and gave me the personal service I was relying on. I hope I never get in that kind of situation again but if I do the Kaufman’s would be the firm I’d call. I highly recommend them."

- Erik (2022)

"Couldn't have asked for a more compassionate and thorough legal representation! Matt was so patient in taking the time to explain everything. The entire staff was incredible. I felt bolstered and validated throughout. I would recommend K&K to anyone going through a dark time with a debilitating injury.. they truly do care about their clients."

- Jessica C. (2022)

"The Kaufmans are a family owned firm that I highly recommend! They have always acted with integrity and intent to help people as best they can. You can trust them and I have dealt with the Kaufmans for a number of years now."

- JB (2022)

"The Kaufman team is very professional and knowledgeable about the work comp laws . They guided me in every step of the process, and if I ever have to do this again , they would be my first call. Without them i wouldn't have been able to pay my bills, and provide for my family. Thanks again to Kaufman and Kaufman for allowing my family to survive."

- Joshua (2022)