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Thanks, XXXXX XXXXX'm a little disappointed in the answer - I kind of knew that it was taxable and reported on my W-2. Is it reported as "Other" income (box14) and if so does it matter for reporting purposes? I guess what I want to know is if by taking a $190K severance package on top of my $160K salary, will the additional tax eat up most of the severance? My employer is only withholding about 33% taxes (25% Federal).