Supreme Court Finds that Severance Pay is Wages for Purposes of Payroll Taxes
By EsqSocial Corporation 27/03/14
On March 25, 2014, the Supreme Court held in United States v. Quality Stores, Inc. that severance payments are taxable wages for FICA purposes. This decision confirms employers’ responsibility to treat severance pay as taxable wages....
By: Foley Hoag LLP