The company that I worked for went bankrupt about 4 years ago. I immediately submitted a claim for severance pay that I was due because of a clause in my employment contract. Recently I was paid out about 10 cents on the dollar with SS, Fed and State taxes withheld. Since I was not paid the full amount of my severance, could this be considered as a settlement and could I recoup the taxes?
Asked on 8/20/09, 4:20 pm
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