re: Need some advice on a car wreck

I am not certain how big companies pay their claims but I will share with you my experience with EXXON.

I was at a red light in Gonzales when an Exxon employee in a company truck hit me from behind. I was not injured but had $3600 damage to my new vehicle. I did not sue them or receive any other compensation just the repairs to my vehicle.

Exxon did pay to have my vehicle fixed but 2 years later I received a notice from the IRS that I did not claim the 1099 on my taxes. I had no clue what they were talking about since I had never worked for Exxon. After much research, it appears that Exxon sent a 1099 to the IRS for the money they paid to have my vehicle repaired.

So I had to pay federal taxes on the $3600 they paid to have my vehicle repaired. After months of arguing with the IRS, I just went ahead and paid it.

Like I stated earlier, I don't know how big companies process their claims, so just make sure you don't have to claim the repairs to the vehicle as income.