Welcome New User! ( Create Account | Sign In )
Question

Submitted 350 days ago...

vaughn

vaughn

New User (1)

Tax/Severance Pay

How do I know if I need to claim my severance in 2007 or 2008?
Should I contact an lawyer or an accountant?

 
 
 
Answers

Awarded Answer (What’s This?)

Answer 1 / 2

Submitted 340 days ago...

ldsch

ldsch

Expert (821)

Tax is due in the tax year the money is actually received.

 

Answer 2 / 2

Submitted 340 days ago...

Jodi-Mesa

Jodi-Mesa

Brain (2,795)

Yup - Idsch is right. If you collected severance pay between 1/1/2007 - 12/31/07 you will claim it on your 2007 taxes.

 

This Question was awarded 309 days ago therefore you can no longer post an Answer. However you may post a comment below.

 
 

Add A Comment

Email Subscriptions
Author adds clarification
All new responses

Related Questions
 
Congratulations!
ldsch

ldsch

Expert (821)

ldsch answer was awarded and will earn ongoing royalties from this thread.

How This Works?