How can I avoid tax on a separation / severance payment?

I was shocked to find that my job was eliminated and now have been sent a severance agreement with a final payment amount for my acceptance. It's not much but money I really need every red cent of it. I wasn't told prior to this offer that I'd have tax taken out before I get the money instead of a 1099 at the end of the year.

Is there a way I can have this disbursed using a 1099?


0 answers  |  asked Oct 23, 2009 07:32 AM [EST]  |  applies to Connecticut

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