JustAnswer > Tax
Ask A Question|Register|Login|Help
JustAnswer

Tax

Ask a Tax Question, Get an Answer ASAP!

Have your own Tax question?

4 Tax Professionals are Online Now
characters left:
Not a Tax Question?
Bookmark and Share

Question

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
+
Read More

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.

Picture
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

+
Read More

Related Tax Questions

  • How do I find out if a person has been paid out in an ...
  • 457 rollover to 403b with different financial institution
  • I opend up a new business and only have had 1 ...
  • my child was born in January 2006, but much cost was ...
  • where can I find Houses for rent in Lake County Ohio?
  • filling out financial information on a ...
  • this question concerns rail road
  • rejected e file



Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.
Question List | Become an Expert | Terms of Service | Security & Privacy | About Us
© 2003-2009 JustAnswer Corp.