The email I got said I was getting $2100. I got $1200. Wasn’t expecting to be taxed so much.
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Agreed! You will get most of it back when you file your taxes.
Try looking at your paystub it will show exactly what was taken out. Also look at a paycheck calculator such as paycheckcity.com there are calculators that will work the numbers to show you what your take home pay consists of.
$2100 vs $1200 – be happy that you got the same digits!!
any severance is taxed like a bonus...its the federal law so nothing can be done.
what I dont like is that the company never tells the severed employee the tax implications....
Taxed at 40%, but when you file taxes you will get quite a bit of it back.
Sounds about right, taxes $3317 on $13,000.🤷🏽♀️