U.S. Supreme Court
Oct. 10, 2013
Justices to decide tax treatment of severance pay
The U.S. high court has agreed to decide whether severance pay to workers who have been laid off is subject to federal payroll tax.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
The U.S. Supreme Court has agreed to decide whether severance pay to workers who have been laid off is subject to federal payroll tax. Is that a big deal? You might not think so. Yet the Obama administration has warned that this little tax case could affect $1 billion in tax refund claims. There are said to be more than 2,400 refund claims pending on this issue and more are expected.
What's more, severance is paid in many contexts,...
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