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What is Severance pay? QuickBooks Support Phone Number Private ad

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Severance pay is an installment bundle offered to workers in view of certain length of administration and pay necessities. According to Publication 525, severance pay must be paid and detailed as pay, and in this manner subject to government withholding, standardized savings, Medicare, and FUTA charges. Since severance pay must be dealt with as supplemental wages, government withholding relies upon whether it was recognized as discrete from the normal wages.
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