What is the naic number number for safeco insurance company? The NAIC number for Safeco Insurance Company of America, domiciled in Keene, New Hampshire, is 24740. Safeco Insurance has multiple different underwriting companies, eac â¦ h of which has a different NAIC number, all of which are listed on the Safeco Insurance website.
When in doubt, always seek advice from an accountant. Also, be sure to check out the IRSâ website (www.irs.gov). Now, class action lawsuits are generally designed to deal with situations where the injury is material (i.e., a defective product or consumer fraud), rather than physical (personal injury or sickness).So, class action settlement money will, in general, be taxable.ttorney's fees are also taxable, and in situations where these were expected to be paid out of a lump sum payment, it is your responsibility to keep records of these payments to ensure you donât end up paying taxes on money you no longer have.
The reason for the non-tax status stems from laws created in 1918. Legislation determined compensation for physical injury was not income and, therefore, under the 16th Amendment was not considered a gain. According to the tax code, the money awarded in a settlement is meant to make the victim whole again. Settlement money can go to pay for items including lost wages, medical bills, pain, suffering, emotional stress, attorney fees and other related harms or losses.