by Structured Settlement Watchdog
Maryland Attorney General Bryan Frosh banned Annuity Sold, affiliated companies and their principals for 7 years in January 2018. That was for fraudulent acts.
Too bad there's not a ban for the abject stupidity propagated by another brand associated with Richart Ruddie and Ryan Blank's Einstein Structured Settlements, in publishing grossly incorrect and unreliable information about structured settlements.
Here's yet another example of complete misinformation typical of a Richart Ruddie and Ryan Blank associated website brand:
"Non-Taxable Court Structured Settlements. You do not owe any income tax on structured settlements that are considered compensatory damages. … It doesn't matter whether the payment is in installments or a lump-sum; all the compensatory payments are tax-free."
What Are Compensatory Damages?
The Legal Information Institute associated with Cornell University Law School states:
In tort law, actual damages is a type of damages which refers to compensation awarded by a court in response to a loss suffered by a party.
The Supreme Court held in Birsdall v. Coolidge, 93 U.S. 64 (1876) that the phrases "compensatory damages" and "actual damages" are identical.
A structured settlement is not an award. An award is not a settlement. A settlement is not an award. That's why it's called a settlement.
Ryan Einstein, an alter ego of Ryan Blank, fraudulently claimed to have a PhD and a law degree from Yale in 2012.
Not all compensatory damages are income tax-free.
For example property damages and most employment related settlements are taxable even through a person may be award them as compensation for loss.
Structured settlements are a solution for many types of claims.
Structured settlement payments are income tax free only if payments are for compensation that is excluded under IRC 104(1)(1) workers compensation IRC 104(a)(2) personal physical injury or physical sickness, wrongful death or IRC 139F wrongful imprisonment
On Deck
Wait for my next report about a recent complaint filed about Annuity Sold with The California Attorney General in November 2018.