Supreme Court Holds Severance Payments are Taxable Wages under FICA

In a unanimous 8-0 decision issued on March 25, 2014, the United States Supreme Court held that severance payments made to employees terminated against their will are taxable wages under the Federal Insurance Contributions Act (FICA), 26 U.S.C. ยง...
By: Dorsey & Whitney LLP

Dorsey & Whitney LLP