Just downloaded my w2 and my severance is not on there... from what I can tell it should be. Does anyone know how Walmart reports this? 1099 or other form?
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Did you still get your bonus when you were laid off?
I used my w4 to claim exempt earlier in the year because with my normal pay I would not have had a federal tax obligation. When I got displaced I left it exempt in case I needed the money. I will still owe the taxes on my severance... well maybe. Since it’s not on my w2 I’m not sure how that will work. Has anyone else gotten a w2 that included their severance?
@rcw....👏👏👏 thank you for being the better person. That doesn't happen much on this site.
To the friend that stated - I don’t deserve severance. I pray god brings you some peace and happiness! Have a great weekend!
I’m so sad for friends that feel the need to attack a stranger.
U don’t deserve severance
If you don’t mind me asking - how do you qualify to become exempt? Just trying to get prepared....
Severance was on my w2.
40%????? Maaaaaaaaan, you guys really DID get the shaft, didn't you?
I was exempt on mine but yes, if not exempt it would be taxed at 40% supplemental rate.
Sorry that I can’t answer your question but I do have a question if you don’t mind answering! When you received your serverance I understand it’s taxed pretty high - almost like a bonus. Did you find that to be the case?