vacation pay

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  • TAX SURGEON
    Junior Member
    • Feb 2011
    • 11
    #1

    vacation pay

    Is vacation pay taxable. I have client who received vacation pay when they retired



    Thanks
    J.L. CURLEY
    Tags: None
    • MDEA
      Senior Member
      • Jun 2013
      • 189
      #2
      Vacayion pay

      Yes it is taxable.It should be included in W-2 when issued.

        Comment

        • ATSMAN
          Senior Member
          • Jul 2013
          • 2415
          #3
          The employer should have also witheld all related taxes just like regular pay.

          I have seen some small employers write a separate check to the employee for accumulated vacation time when they quit or retired and not withold any taxes?
          Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

            Comment

            • New York Enrolled Agent
              Senior Member
              • Nov 2006
              • 1532
              #4
              Originally posted by TAX SURGEON
              Is vacation pay taxable. I have client who received vacation pay when they retired
              What possibly would make you consider it not to be taxable?

              ยง61 - Gross income = income from whatever source derived except something specifically exempted by Congress.

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