What Is the Average Settlement for a Roundup Cancer Lawsuit?

Monsanto Roundup Lawsuit Settlement Update

Monsanto / Bayer managed to settle the 100,000+ Roundup cancer lawsuits by negotiating block settlement arrangements with plaintiffs’ lawyers who have large numbers of cases in the litigation.

Although these settlements account for nearly 80% of all claims over Roundup herbicide, there are still at least 26,000-30,000 pending complaints, most of which were filed in state court. There are more than 4,000 additional claims in the MDL Roundup class action lawsuit pending in California.

Related Article: Roundup Lawsuits Update

What Will You Get? Understanding Roundup Settlement Amounts

The amount you may receive from a Roundup settlement depends on a variety of factors. Understanding these factors can help you estimate your potential payout and prepare for what to expect.

The average settlement is estimated at $150,000 per plaintiff, with payouts ranging from $5,000 to $250,000. Factors that influence settlement amounts include:

• Severity of injuries and damages.
• Duration and intensity of Roundup exposure.
• Your overall health and age.
• Proof of Bayer’s negligence.
• Strength of evidence in the claim.

Are You Eligible for a Roundup Settlement? Find Out Here

Eligibility is based on several factors, including how long you were exposed to the product and when you were diagnosed with qualifying diseases like non-Hodgkin lymphoma.

You may qualify if:

• You used Roundup for at least 80 hours over two years before being diagnosed with non-Hodgkin lymphoma or another qualifying disease.
• You were exposed to large amounts of Roundup at age 12 or younger.
• Your diagnosis occurred on or after June 1, 2018.
• You file your claim within the statute of limitations.

Pro Tip: Contact a Roundup lawyer immediately to confirm your eligibility and secure your right to file a claim.

Tax Implications of a Roundup Settlement: What You Need to Know

It’s essential to be aware of the tax implications when receiving a Roundup settlement.

The general rule for monies received from lawsuit settlements and other legal remedies is Internal Revenue Code (IRC) Section 61, which states that all income is taxable from whatever source derived unless exempted by another code.

In general, settlement payouts are considered taxable income, which could impact the total amount you receive.

When you receive a Roundup settlement, it’s essential to understand the tax consequences. Settlements can be subject to taxation depending on the type of compensation received.

Here’s a breakdown of the key factors to keep in mind so you can avoid unexpected tax surprises.

Compensatory Damages for Physical Injuries: Typically Tax-Free

In most cases, compensatory damages received for physical injuries or illness, such as those for medical expenses or pain and suffering, are generally tax-free. This makes compensation for physical harm less complicated from a tax perspective.

Compensatory Damages for Emotional Distress: Watch Out for Taxes

Emotional distress damages are taxable unless directly tied to a physical injury. If the emotional distress stems from something like a physical injury (e.g., from cancer caused by Roundup exposure), it may be tax-free. However, medical expenses related to emotional distress are usually tax-free.

Punitive Damages: Always Taxable

Punitive damages, awarded to punish the defendant for wrongdoing rather than compensate the plaintiff, are always taxable. These funds are subject to regular income tax, regardless of the nature of the case.

Lost Wages or Lost Profits: Taxed as Ordinary Income

If your settlement includes compensation for lost wages or lost profits, those amounts are taxed as ordinary income. This means they will be subject to the same tax rates as your regular paycheck.

Reporting Your Settlement: Don’t Forget to File

If you receive a settlement over $600, the payer is required to send you a 1099-MISC form. You must report this income on your tax return, and it could impact your overall tax liability. Failing to report it may result in penalties or interest.

Strategies to Minimize Tax Impact: Plan Ahead

There are several strategies you can use to minimize the tax burden from your settlement:

• Structured Settlements: Spreading payments over time can reduce your annual tax burden and lower the overall tax impact.
• Allocation of Damages: Work with your attorney to clearly allocate settlement amounts to different categories. Some types of damages may be exempt from taxes.
• Medical Expense Deductions: If your settlement didn’t cover all medical expenses, you might be able to deduct them on your taxes.

Tip: Consult a tax professional to understand how the settlement might affect your taxes and plan accordingly.

How Can I Avoid Paying Taxes on a Roundup Settlement?

Spreading payments over time may help you avoid paying higher taxes from a Roundup settlement. Receiving a large, lump sum settlement can bump your income into a higher tax bracket.

By spreading your settlement payments over multiple years, you can reduce income subject to the highest tax rates.

Do Roundup Settlement Payments Require 1099?

The IRS requires the payer to send the recipient a 1099-MISC, as long as the settlement meets the following conditions: The payee received more than $600 in a calendar year. The settlement money is taxable in the first place.

When Can I Expect My Roundup Settlement Check?

Settlement checks from Roundup cancer lawsuits are usually mailed within one month after you submit the release form to the insurance company.

FAQs

What factors influence the settlement amount in a Roundup lawsuit?
Factors include the severity of the plaintiff’s illness, the extent of exposure to Roundup, medical expenses, lost wages, pain and suffering, and the strength of the evidence linking Roundup to the illness.

Can I expect a settlement if I file a Roundup lawsuit?
Many Roundup cases have resulted in settlements, but the outcome depends on the specifics of each case, including the evidence presented and the negotiation process. Consulting with an experienced attorney can help evaluate your chances.

How long does it take to reach a settlement in a Roundup lawsuit?
Settlement timelines vary, but it can take several months to years to reach a settlement in a Roundup lawsuit. The duration depends on case complexity, court schedules, and the negotiation process.

Is a settlement considered income?

Settlement money and damages collected from a lawsuit are considered income, which means the IRS will generally tax that money. However, personal injury settlements are an exception.

Related Articles:

• Massachusetts Roundup Lawyer
• Ohio Roundup Lawsuit
• New York Roundup Lawyer

See all related product liability lawsuits our attorneys covered so far.

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If you have developed cancer as a result of glyphosate exposure, then contact Schmidt & Clark, LLP today for a free case evaluation. 

All lawsuits are different, and it’s important to ensure you have a law firm by your side that has the experience to frame the legal argument and ensure you get the best possible payout. 

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