ON MY 1040, SCHEDULE 4, LINE 62 CODES EPP WHAT IS THAT CODES

[choukit]

on the front page of 1040, on line 14 reflects to schedule 4, line 62,there seems codes EPP and then there is additional tax.  What is EPP?

[macuser_22 · Accepted solution]

1040 line 62 instructions: page 104

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

Line 62
Other Taxes

9.
Golden parachute payments. If you received an excess parachute payment (EPP), you must pay a 20% tax on it. This tax should be shown in box 12 of Form W-2 with code K. If you received a Form 1099-MISC, the tax is 20% of the EPP shown in box 13. Identify as “EPP.”