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all claims and demands, rights and causes of actions of
any kind, * * * including any claims for physical
injuries, psychiatric injuries, psychology injuries,
loss of employment, claims for violation of Chapter 440
of the Florida Statutes, claims for threats of
discharge, intimidation, harassment, coercion, wrongful
termination, intentional, willful, or malicious
violations of Statute 440.205, loss of earning
capacity, emotional or mental anguish, punitive
damages, mental distress, or any other type of damage
claimed or viable as a result.
APSI and Chevron executed a stipulation and order of dismissal
with prejudice pursuant to which they agreed to settle the case.
Petitioners filed their Federal income tax return for 1998
as married filing jointly. They did not report the $5,000
received from the settlement. Petitioners allege that Chevron
paid the $5,000 settlement for petitioner’s pain, suffering, and
medical expenses incurred as a result of the injury that occurred
while he was employed by Chevron; therefore, the settlement
proceeds are not includable in gross income.
Petitioners previously advised respondent (as evidenced by a
copy of a letter) that the settlement proceeds were received as
“the result of a Accident/Disability settlement incurred when I
was hit [by] a Taxicab while riding my bicycle in Florida. All
monies [were] for Pain & Suffering or went to therapy and
rehabilitation as I was not employed at the time of the
accident.”
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Last modified: May 25, 2011