Dear Clients:
I am now advised that payments will commence on or about October 8.
Please check your notices for the tax treatment of your payments:
* NY EMPLOYEES 7/18/11 - 11/10/18 OR CA EMPLOYEES 7/18/14 - 11/10/18:
25% of your payments are considered back wages and normal payroll taxes will be deducted. The other 75% will be considered non wage income and no deductions will be taken.
* ALL OTHER HANDLERS 5/22/14 - 11/10/18:
50% of your payments are considered back wages and normal payroll taxes will be deducted. The other 50% will be considered non wage income and no deductions will be taken.
Please be reminded that I cannot offer any tax advice. Provide your accountant with the notices you were provided with, or have him/her review the final settlement agreement in the Court file.
Regards,
Dave Aboulafia
No comments:
Post a Comment