How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Roger Your Own Question
Roger, Attorney
Category: Business Law
Satisfied Customers: 31729
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
Type Your Business Law Question Here...
Roger is online now
A new question is answered every 9 seconds

I am getting a lump sum settlement from my past employer from

Customer Question

I am getting a lump sum settlement from my past employer from a mediated claim. The settlement mentions a w2 form and a 1099 for taxation. Will I get both or one or the other?
Submitted: 2 years ago.
Category: Business Law
Expert:  Roger replied 2 years ago.
Hi - my name is ***** ***** I'm a Business litigation attorney. Thanks for your question. I'll be glad to assist.
A W-2 is issued for wages from an employer, so it is not likely that you'd get a W-2 unless the employer considers the money paid as being wages.
A 1099 reports income OTHER THAN wages....which is usually what settlement proceeds would be considered.
Thus, you should only get one of the two UNLESS the settlement is made up of wages (W-2) and damages other than wages (1099).