Report a cash severance payment that you received or will receive in Part 2.  In addition, report an arrangement to receive severance in Part 3 (see Part 3 of this guide for details).

For You

Part 2

Reporting a Severance Payment You Have Already Received

Report the source and amount of your severance payment(s) if you received more than $200 from that source during the reporting period.

Description:  Provide the name of the source.  In addition, if the source is a privately held business, provide the source’s line of business.

EIF:  Select “N/A.”

Income Type:  Describe the type of income as “severance.”

Income Amount:  Provide the exact amount of the severance payment(s) received during the reporting period.

Reporting a Severance Payment You Have Not Received

Report an anticipated severance payment if its value was more than $1,000 at the end of the reporting period.

Description:  Provide the name of the source and write “anticipated severance.”  In addition, if the source is a privately held business, provide the source’s line of business.

EIF:  Select “N/A.”

Value:  Select the category that corresponds to the value of the anticipated severance payment.

Income Amount:  Select the “None (or less than $201)” category.

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