Thread regarding ShopKo Stores layoffs

Severance eaten by taxes?

I worked at Shopko for about 8 years in Provo Utah. Don't take the severance deal if they offer it you will regret it. After taxes it amounts to almost nothing you would be better off just collecting unemployment.

Is this true? Don't you get most of it back in your tax returns?

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| 745 views | | 3 replies (last )
Post ID: @OP+Y9rULmI

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Are we even getting the severance after they filed chapter 7? I have yet to send my paperwork in, just waiting to see if there's even a paycheck coming next week. Thankfully I was smart and only agreed to two days a week when they extended us two weeks. I wasn't fooled by their tactics and fake emails of how well everything was moving forward especially when I was watching the bankruptcy court page each day and reading the documents.

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Post ID: @2fkk+Y9rULmI

Got back news for you, severance is taxed too.

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Post ID: @xfy+Y9rULmI

I'm guessing what they're saying is, it's not a lot of money period. it's only an average of 2 weeks pay for hourly employees. it's still taxed at the same rate as the rest of your paychecks ....

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Post ID: @oaw+Y9rULmI

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