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.
When are Legal Settlements Taxable? According to the IRS, âall income is taxable from whatever source derived, unless exempted by another section of the Codeâ (IRC Section 61). How does that affect monetary awards in legal settlements? Awards and settlements can be broken into two separate groups to determine whether they are taxable or not.