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What is supplemental tax rate? Laid off 12/31/16. Severance paid Jan ’17. Package taxed at supplemental rate. Do I change W4 prior so less taxes are taken?
Luckily severance comes after end of year. I am trying to find out what the supplemental tax rate is (for 2017, or for 2016 as a guide) and whether I can lower the amount taken out of the severance pay by changing my W4 before the end of the year. I do not want the government to take out half or more of my severance.
May 31, 2019
4:09 PM