Ok, a little back ground.
I was medically discharged in Feb '12 from active army. I received my severance pay in March '12. I met the criterita to receive a severance pay tax refund and received the refund in May '12.
I checked mypay today to review my w2. Under Income is show $7x,xxx but in the tax block it only shows $5xx. There are no special comments that state the severance was tax free. This doesn't seem right. By the looks of the w2 it seems I would owe a whole lot of taxes to the irs.
Anyone have any input on this or the others who received their severance pay tax refund? What do your w2's look like?
Sid
I was medically discharged in Feb '12 from active army. I received my severance pay in March '12. I met the criterita to receive a severance pay tax refund and received the refund in May '12.
I checked mypay today to review my w2. Under Income is show $7x,xxx but in the tax block it only shows $5xx. There are no special comments that state the severance was tax free. This doesn't seem right. By the looks of the w2 it seems I would owe a whole lot of taxes to the irs.
Anyone have any input on this or the others who received their severance pay tax refund? What do your w2's look like?
Sid