Received my severance deposit this morning. Even after taxes, the net amount is about $700 less than it should be.
Anyone have any insight into this? Unless they broke it up into multiple payments, I don’t understand it.
9 replies (most recent on top)
Nice try, @zzz+16677zls. Republicans had both houses of Congress and the Presidency, and yet here were are.
I'm glad the Democrats are trying to extend the $600/week unemployment benefit bump and ensure employers are liable if they put their employees in harm's way. Something that the other party is fighting.
Your severance is what you were told it would be. The taxes rate is the Federal government. It's about 40%. That's not Macy's fault. Go back and read the FAQ, there is a small statement in it about taxes on this distribution. Macy's didn't cheat you, but you are making it seem that way.
Democrats huh, they're not the reason we have no jobs! Look at the reduction in unemployment benefits extras that was a huge help will be reduced to one hundred dollars from six hundreds. Whose idea was that, not the democrats.
HR services alias hopeless rejects.
To the person who gave the 40% reply: thank you. That actually makes sense.
You were more help than Macy’s HR. 👍
Uh the most recent tax rule was through a rethug controlled congress. Nice try, tho.
Its taxed at 40%, but you will get a considerable amt of it back when you file your 2020 taxes.
My estimated amount of severance pay was what I was paid .
That's the way Uncle Sam rolls. If you don't like it, vote in less Democrats to Congress. You're "rich".