Reheating tasty leftovers takes a bit more babysitting than you'd think. In spite of what the manufacturer tells you, microwaving is a contact sport. Go ahead and set the timer for three minutes, but after sixty seconds you should open the door, carefully remove the lid or covering, and stir.
The required type of post severance compensation will be referred to as the final paychecks rule for purposes of this article. There is an additional type of optional post severance compensation allowed under the final 415 regulations, which will simply be referred to as post severance compensation.
Severance Options. One of the key decisions an employee needs to make that impacts taxes on a severance package is whether to take a lump sum payment or opt for salary continuation. In general, all income from a severance package is taxable. lump sum means a higher tax liability for the year in which the employee receives it. Spreading payments out with salary continuation may place some of that income in a future tax year, depending on the length of the severance package and the time of year when it begins.