Search This Site.
Do I need to report a large fee paid to me by my former employer for signing a waiver and release contract? - Florida
I was recently laid-of without severance. Several days after my termination date I spoke with management and they agreed to pay me a large fee for signing a waiver and release contract...they expressly indicated that this would not be severance as I was not eligible for their severance plan. I haven't filed for unemployment benefits yet and was wondering if I have to report these additional funds. I was no longer employed at the time I received them so from my perspective they wouldn't be considered wages.
Yes, I think you need to let the Florida unemployment department know about the payment. They will ask the appropriate questions to determine whether it will be considered wages or exactly why you received the money and for what. The state really wants to know because they want to make sure they are collecting contributions for any money that is considered wages by them.
I suppose you could also ask a lawyer to look over the agreement you signed and get some actual legal advice about how the state will view the money.
You could also take a look at the Statutes
and see what Florida considers "Wages".
Click here to post comments
Return to Ask Florida Unemployment Questions.