When downloading my W2 from the work history site, I see that my wages are significantly higher than they should've been for last year. Is it because they're adding the severance payout to the W2?
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You cannot roll over a severance to an IRA and avoid taxes. You can roll your 401k into an IRA if you choose.
What id--t downvoted "yes"? It literally answered the question in the easiest way possible. Common sense is no longer common.
Yes and the withholding for me wasnt near enough.
Couldn't roll over a severance, too much money. Rolled over 401k, sold stock @$45 per and rolled those over to an IRA
To you good PEOPLE , why not roll over your severance to an IRA THAT WILL AVOID TAXES
Of course they are adding in the severance. Plus any vacation buyout. Why would you think that is not reported to the IRS?
Yes