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U.S. High Court Hears Oral Arguments In Dispute Over Taxing Severance Payments

WASHINGTON, D.C. — (Mealey’s) Severance payments fall within the Federal Insurance Contributions Act’s (FICA) definition of wages and are taxable, Assistant to the Solicitor General Eric J. Feigin told the U.S. Supreme Court Jan. 14 in arguments presented on behalf of the United States...

Supreme Court Holds Severance Payments Are Taxable Wages

WASHINGTON, D.C. — (Mealey’s) Severance payments fall within the definition of wages in the Federal Insurance Contributions Act (FICA) and are taxable, the U.S. Supreme Court ruled March 25 ( United States of America v. Quality Stores, Inc., et al. , No. 12-1408, U.S. Sup. [ enhanced opinion...