Are Severance Packages Taxable?
Severance package laws may be found under several legal statutes including the tax code. Many of the benefits you may receive under a severance package will be taxed either at the outset or eventually. Make sure you understand your taxes in advance so you do not end up with surprises at tax time. This can be particularly problematic if you are out of work. It is better to get taxes taken out at distribution.
