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UPS Union Issues
Retro checks
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<blockquote data-quote="HBGPreloader" data-source="post: 1305189" data-attributes="member: 19782"><p>A retro check will likely be a separate lump-sum payment and taxed at the appropriate (annual) rate.</p><p>So, if that lump sum payment would be equal to an annual salary more than ~$407,000, that income will be taxed at 39.6%.</p><p>This will be in addition to all other federal, state and local taxes too.</p></blockquote><p></p>
[QUOTE="HBGPreloader, post: 1305189, member: 19782"] A retro check will likely be a separate lump-sum payment and taxed at the appropriate (annual) rate. So, if that lump sum payment would be equal to an annual salary more than ~$407,000, that income will be taxed at 39.6%. This will be in addition to all other federal, state and local taxes too. [/QUOTE]
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