***** Scenario 4: Golden Parachute Payments CEO is terminated...
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Scenario : Golden Parachute Payments CEO is terminated following a company merger. Receives a severance package golden parachute of $ million. Applicable excise tax rate on excess payments is Wages prior to termination: $ Interest and Dividend Income: $ Itemized Deductions: $ Allowable deduction for selfemployment tax: None Calculate: The amount of the severance subject to the excise tax. Total income tax and excise tax liability AGI, Taxable Income
Scenario : Golden Parachute Payments
CEO is terminated following a company merger. Receives a severance package golden parachute of $ million.
Applicable excise tax rate on excess payments is
Wages prior to termination: $
Interest and Dividend Income: $
Itemized Deductions: $
Allowable deduction for selfemployment tax: None
Calculate:
The amount of the severance subject to the excise tax.
Total income tax and excise tax liability
AGI, Taxable Income
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