Tax,
Labor/Employment
Oct. 2, 2017
Taxes on severance pay can be unpleasant surprise
Employers, employees and former employees can all experience unpleasant surprises when it comes to severance. Not everyone has the same view or the same interest from a tax viewpoint, and the variation in responses to the situation can be large.
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.
Employers, employees and former employees can all experience unpleasant surprises when it comes to severance. Not everyone has the same view or the same interest from a tax viewpoint, and the variation in responses to the situation can be large. You may get severance pay when you quit your job, are laid off, or fired.
You also might get severance later if you sue and settle. The paying employer (or former employer) might not think a...
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