Are severance packages taxed like crazy? Anyone know how much they can take?
3 replies (most recent on top)
They have to be taxed at a higher marginal rate, but if it’s too much you get it back at the end of the year.
Severance is taxed 40% just like bonus
They are taxed at a higher rate . yes. Also you will receive actual check 40 business days after last day or about 6 weeks