How is cashed out PTO taxed? Like normal income?

likehelpfulfunny
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Like normal income

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most efficient thread of all time.

likefunnyuplifting

Unfortunately it’s not normal income.. Under IRS rules, lump sum payments such as PTO payout are considered supplemental wages and are subject to Social Security and Medicare taxes even if your maximum contribution limit is reached. Any federal income tax withheld will be at the IRS supplemental wage tax rate of 22%

likefunnyhelpful

Agree with what D3 said..

yup, like it's normal pay.

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Had to present the same information that had already been presented but in a very slightly different way. Can confirm, this guy has been a consultant for a long time.

likefunnyupliftinghelpful

All income you earn from your employer is taxed the same. Salary. Bonus. PTO payout. There is no such thing as regular income versus supplemental income.

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It’s taxed the same as normal income but withholding is different (same as a bonus)

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Nope 22% as supplemental pay

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