BP Fair Fund Settlement

[amino_acids2003]

Few days ago, i received a small amount of money from BP Fair Fund Settlement.  http://bpfairfund.com My question is that do I have pay tax on it?

[BTDretire]

  I don't know, was it for lost wages, then yes, and you also owe FICA on it.
Was it a payment for agreeing not to sue them?  Yes, but, no, for the FICA tax.
At least that's how my accountant handled it, although I had to point
out to him this check was for agreeing I wouldn't sue them, so I didn't think
I owed FICA tax on it.

[amino_acids2003]

Is for the stock compensation lost because BP violated federal securities laws when it made material misrepresentations and omitted material information during the oil spill in the gulf.

[MetalCap]

I received it as well.  I researched it when I first received the notice and I don't believe we do. Mine is so small, I'm not worried either way.