blog address: https://wolfandpravato.com/why-do-i-need-a-w9-form-for-a-personal-injury-settlement/
keywords: w9 settlement payment
member since: Mar 13, 2025 | Viewed: 449
Category: Law
A W-9 form is needed for a personal injury settlement when a portion of the payment is taxable, such as lost wages or interest. Insurance companies or law firms may request it to report the settlement to the IRS using a 1099 form. While compensation for physical injuries is usually tax-free, other portions may be subject to taxes, making proper documentation essential.
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