Mealey's Labor & Employment - Supreme Court Holds Severance Payments Are Taxable Wages

Mealey's Labor & Employment - Supreme Court Holds Severance Payments Are Taxable Wages

WASHINGTON, D.C. - 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.; 2014 U.S. LEXIS 2213).

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