Does anyone know do you have to wait until your 60 days notice is up before you can receive your severance pay?
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Yes you do!
22% is the base fed tax. Then you have social security, state tax and local taxes where applicable and other specific deductions such as 401k and other extended benefit contributions. Everyone is at the 22% fed base tax but the rest can vary by situation and area.
Is everyone’s severance taxed at the same percentage? I read it is taxed at 22%.
I was part of the RIF. We were told we would get our severance pay within 60 days of our last day of employment. I received my $$$ in 1 week. They did however tax 37% of it.
They pay it after departure, it must be paid within a specified amount of days for legal reasons, I do not know what that time is, but on the call they said everyone laid off this year will get their severance this year.
No If I am cut I will wait my time to get severance, my question is when do they issue your severance? After the 60 days is up or prior? Just wondering if they want to get that check issued this year and some of us are still waiting to hear.
@xqj+17xtbbel no you do not, if you leave less than 60 days to go to another job you lose 10% pretty minimal when you are going to another job
Yup or you forfeit it.