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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Supreme Court Justices Consider Taxability of Certain Severance Pay During Quality Stores Oral Arguments
Ogletree Deakins Jan. 16, 2014
"Justice Ginsburg questioned the government about the impact of its position on state unemployment compensation payments. Justice Alito pressed the government on whether its argument would be different if the severance payments were not connected to employees' length of service and salary -- to which the government responded that the payments would still be considered wages as 'keyed to the critical aspects of the employment relationship.' ... If the Supreme Court upholds the Sixth Circuit's ruling ... the [IRS] could owe more than $1 billion in FICA tax refund claims to individuals and employers that have filed protective refund claims pending the outcome of the Quality Stores case."
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