by Structured Settlement Watchdog
The South Town Tattoo and Body Piercing Blog of Fort Smith AR deserved “some ink”just not the type they were hoping for
Structured Settlement Watchdog “needles” South Town Tattoo and Body Piercing blog for some really inaccurate stuff that misinforms the public
The South Town Tattoo and Body Piercing Blog of Fort Smith, AR recently took a stab at explaining structured settlements. Unfortunately, several of their statements were less “body art” and more “botched job.” In the spirit of public service — and clean lines — the Watchdog offers the following corrections.
Tat’s Not True #1
“Structured settlements have not normally been available”
Comment: Apparently 600 or so individuals have been plying their trade in something abnormal for over 30 years, that has resulted in the nominal estimate of $125 billion structured.
Tat’s Not Rule #2
“The Periodic Payment Settlement Act of 1982 was enacted to make huge awards additional agreeable to all get-togethers…”
Comment: Party on Razorbacks! Oh wait, the Periodic Payments Settlement Act of 1982 was enacted during the Reagan Adminstration NOT Bill Clinton’s!
Tat’s Not True #3
“This is what is identified as ‘tax deferral.’ Only when you come to a decision to withdraw your cash are your gains matter to profits tax”
Comments:
- Structured settlements payments are income tax free if they represent damages for personal physical injury or physical sickness, wrongful death or worker’s compensation.
- In the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), Congress added an exclusion from income under section 139F of the Internal Revenue Code. Under this exclusion, a wrongfully incarcerated individual does not include in income any civil damages, restitution, or other monetary award received that relates to his or her incarceration for the covered offense for which he or she was convicted (wrongful incarceration exclusion).
- The tax deferral aspect applies to non qualified structured settlement, where future periodic payments are a component of compensation for taxable damages
Tat’s Not True #4
“When you decide to withdraw your resources, the coverage corporation will give you the selection to receive a guaranteed revenue for as very long as you live”.
Comment:
If you want “guaranteed revenue for as very long as you live” then a structured settlement, funded with an annuity is a viable option.
Outro
Even in the tattoo world, a steady hand matters. Facts, like ink, have a way of becoming permanent once they’re out in public. So when a blog starts free‑styling structured‑settlement “truths” like a walk‑in special, the Watchdog steps in to clean up the lines. Consider this a friendly touch‑up — no charge, no tipping required, and far less painful than laser removal.
Tweety balloon Image source: © Nikita Rogul | Dreamstime.com
Header image: AI generated through creative through of this blog’s author.
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