Wednesday, October 2, 2013

Supreme Court To Decide Case on Severance Pay and FICA Taxes

Bloomberg News reports in "Taxes on Severance Payments Draw U.S. High Court Review" that:

"The U.S. Supreme Court agreed to consider whether companies and employees must pay Social Security taxes on severance compensation, accepting a case that may force the Treasury to give billions of dollars in refunds.

The justices today said they will hear the appeal from President Barack Obama’s administration in a case involving Quality Stores Inc., once the country’s largest agricultural specialty retailer."

To read the entire article, click here.
To read analysis from Covington & Burling, click here.
For analysis from Miller & Chevalier, click here.

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