Legal Question in Tax Law in New York

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

1 Answer from Attorneys
Norman Nadel Norman Nadel, Esq.

No.

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Answered on 8/25/09, 5:38 pm


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