From what I have read, settlement amounts can be taxable or non-taxable depending on the nature of the claim.
In California v. Vitol, people received settlement amounts due to "overpaying for gas". To me, it seems like a refund or return of money. So unless gas was deducted as a business expense in past returns, the settlement amount should not be taxable? Is this correct?
The settlement website explicitly states that deductions for taxes will be made before individual payments are distributed.
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