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Supreme Court Justices Consider Taxability of Certain Severance Pay During Quality Stores Oral Arguments

Yesterday the Supreme Court of the United States heard oral arguments in United States v. Quality Stores, Inc., a case on appeal from the Sixth Circuit Court of Appeals. A circuit court split had spurred the Court to hear the...more

1/16/2014 - FICA Taxes IRC Oral Argument Quality Stores SCOTUS Statutory Interpretation

Is the Severance that Your Company Pays to Fired Workers Taxable? The Supreme Court Will Decide

On October 1, 2013, the Supreme Court of the United States agreed to hear a case concerning whether employees’ severance payments are taxable. The case, United States v. Quality Stores, Inc., came out of the Sixth Circuit...more

10/4/2013 - FICA Taxes Hiring & Firing Quality Stores SCOTUS Severance Pay Termination Wages

The Advantages of Offering Supplemental Unemployment Benefits Instead of Severance, Part II: FICA Taxes and More

In part one of this two-part series, “The Advantages of Offering Supplemental Unemployment Benefits Instead of Severance, Part I: FICA Taxes and More,” I reviewed the advantages of offering supplemental unemployment benefits...more

8/29/2013 - FICA Taxes FUTA IRS Unemployment Benefits

The Advantages of Offering Supplemental Unemployment Benefits Instead of Severance, Part I: FICA Taxes and More

According to the Internal Revenue Service (IRS), severance is subject to Federal Insurance Contribution Act (FICA) tax and certain supplemental unemployment benefits are not....more

8/27/2013 - FICA Taxes IRS Severance Agreements Unemployment Benefits

Supreme Court DOMA Decision—Part II: Wage Overstatements and Tax Refunds

In part one of this two-part series, “Supreme Court DOMA Decision — Part I: Fringe Benefits and Other Tax Implications,” I reviewed the fringe benefit and tax implications of the United States v. Windsor decision....more

7/26/2013 - American Taxpayer Relief Act DOMA FICA Taxes IRS SCOTUS Tax Refunds US v Windsor Wages

IRS Worker Classification Audits—Risks And Relief Options

The battle between the Internal Revenue Service (IRS) and taxpayers continues over independent contractor treatment. ...more

5/23/2013 - Classification FICA Taxes Independent Contractors IRS Safe Harbors Tax Liability VCSP

April 4th Deadline for FICA Tax Treatment of Severance Pay Under Quality Stores

Two deadlines relating to the Sixth Circuit Court of Appeals’ decision in United States v. Quality Stores, Inc., No. 10-1563 (6th Cir. Sept. 7, 2012), are quickly approaching. The deadline for the United States to file a...more

3/14/2013 - FICA Taxes Quality Stores Severance Pay

IRS Guidance to Implement Retroactive Increase in 2012 Mass Transit Benefit Limits—January 31 Deadline

On January 16 the Internal Revenue Service (IRS) issued guidance on the application of the retroactive increase in excludible transit benefits, as enacted under the American Taxpayer Relief Act of 2012 (ATRA). IRS Notice...more

1/18/2013 - American Taxpayer Relief Act Employee Benefits FICA Taxes IRS Recordkeeping Requirements Reporting Requirements Retroactive Application Tax Benefits Transit Benefits W-2 Withholding Errors

Government Challenges Sixth Circuit Decision in Quality Stores, Inc.

On October 18, 2012, the U.S. Department of Justice filed a petition for rehearing en banc in the Sixth Circuit Court of Appeals in United States v. Quality Stores, Inc., No. 10-1563 (September 7, 2012), asking the full court...more

11/5/2012 - DOJ FICA Taxes IRS Quality Stores Severance Agreements Statute of Limitations

Sixth Circuit Decision Offers FICA Tax Refund Opportunities for Severance Pay

Any employer that implemented reductions in force or layoffs after 2008 should consider filing refund claims for the Federal Insurance Contributions Act (FICA) taxes paid on severance benefits based on a recent Sixth Circuit...more

9/11/2012 - FICA Taxes IRS Quality Stores Severance Pay Wages

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