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I have been offered a severence amount of $16,000. Can i receive this severence untaxed in the form of a "settlement" or elsewise??
Submitted: 1963 days and 9 hours ago.
Category: Tax
Value: $10
Status: AWAITING EXPERT REPLY
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Answer
A severance check is just taxable wage income. It does not count as a settlement, unless there is some other issue involved.
If there is some reason that you mention "settlement", let me know.
Expert:
Paul Taliefero
Pos. Feedback:
97.9 %
Accepts:
Answered:
7/8/2004
Enrolled Agent
19 years of experience in income taxes
1963 days and 9 hours ago.
Reply
Can it be payed as a settlement instead of as a severence and not taxed
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