Generally severance payments made to terminated employees have been held by the US Tax Court to be FICA wages because the definition of “wages” for FICA purposes found in the Internal Revenue Code is so broad. “Wages” include all remuneration or money paid for employment with 23 listed statutory exceptions to the definition. A federal…Details
Tax Article Archives
Read about some of John’s more memorable experiences navigating the conflicting sections of the Internal Revenue Code.