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Tax planning following a job loss
March 2012
Newsletter: Tax & Business Alert
Price: $225.00, Subscriber Price: $157.50
Word count: 211
Abstract: Taxpayers dealing with a layoff or termination frequently overlook the tax consequences of events associated with their unexpected job loss. Yet, properly handling the tax aspects of this life-changing event could prevent a negative financial impact. This article discusses the tax treatment of severance pay, job placement assistance, moving expense reimbursements and distributions from a qualified retirement plan.