Leaving a Job? Don’t Take a Tax Surprise with You A recent Supreme Court decision could impact the taxes you pay when you leave a job. Being aware of this new change could save you plenty if you pay attention to your severance… An inevitable part of life is a changing jobs. Now a recent Supreme Court decision clarifies that severance payments you receive when you leave your job are wages and subject to employment taxes. So how might this impact you? Background All employees and employers pay FICA taxes. There are two components; Social Security. Social Security tax rates

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