News & Analysis as of September 19, 2024

Severance Agreements

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Federal Insurance Contribution Act (FICA) Taxes are United States federal payroll taxes levied to fund the Social Security and Medicare system. FICA Taxes burdens are divided between employers and employees and... more +

How Do I Report Non-Qualified Plan or Severance Payments to a Former Employee? Hint: You Should Probably Use a W-2, Not a 1099!

Foley & Lardner LLP on 7/10/2018

Employers commonly make payments to former employees for a number of reasons. Two of the more routine payments are those from a non-qualified deferred compensation plan (such as payments from a supplemental executive...more

Employment Flash (June 2014)

Skadden, Arps, Slate, Meagher & Flom LLP on 7/1/2014

In This Issue: - NLRB Recess Appointments Unconstitutional - SEC Brings First-Ever Employment Retaliation Claim - EEOC Challenges Employer Severance Agreements - New York State Transportation Industry...more

Employment Alert

McNees Wallace & Nurick LLC on 4/7/2014

In This Issue: EEOC's Latest Target - Severance Agreements; Pennsylvania's Unemployment Compensation Law May Require Employers to Provide Response to Unemployment Information Requests; and Supreme Court Clarifies that...more

Sixth Circuit Nixes FICA Tax on Severance Pay

Dickinson Wright on 10/22/2012

The U.S. Court of Appeals for the Sixth Circuit has affirmed a Michigan Bankruptcy Court and approved a taxpayer’s request for a refund of FICA taxes paid on behalf of former employees. Quality Stores et al....more

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FICA Taxes › Severance Pay › Severance Agreements

How Do I Report Non-Qualified Plan or Severance Payments to a Former Employee? Hint: You Should Probably Use a W-2, Not a 1099!

Employment Flash (June 2014)

Employment Alert

Sixth Circuit Nixes FICA Tax on Severance Pay

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