TITLE

Severance benefits may not be subject to FICA taxes: Consider filing a protective refund claim soon

AUTHOR(S)
Goller, Michael G.; Barnes, Amy L.
PUB. DATE
May 2013
SOURCE
On Balance;May/Jun2013, Vol. 9 Issue 3, p22
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the court case United States v. Quality Stores in which the U.S. Court of Appeals for the Sixth Circuit confirmed that certain severance amounts paid to employees upon involuntary termination of employment related to reduction in workforce or plant closing were not subjected to Federal Insurance Contributions Act (FICA) taxes. It also informs that the U.S. is expected to file a petition for certiorari with the U.S. Supreme Court.
ACCESSION #
88409598

 

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