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Supreme Court Holds Severance Payments are Wages for FICA Purposes
Posted by Kristen Shepley on Tue, Jun 17, 2014 @ 09:43 AM

On March 25, in an 8-0 decision, the Supreme Court reversed the Sixth Circuit Court of Appeals' decision in U.S. v. Quality Stores, Inc. and held that severance payments constitute wages for purposes of FICA withholding. This ruling resolves a conflict between circuits and ends any possibilities that taxpayers may receive refunds from protective claims filed for previous tax years.

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Topics: severance payments, FICA, FICA withholdings

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