Updated: Mar 17, 2025 / 03:06 PM EDT RICHMOND, Va. (WRIC) — Richmond Mayor Danny Avula has released some details regarding severance pay made to former city employees since 2017.

Under Section 17 (3) (i) of the Income Tax Act, severance pay is now taxed as “Profits in Lieu of Salary.” The law underwent a change from April 1, 2019, following the Union Budget 2018.

Elon Musk reneged on promised severance payments to workers he fired from Twitter, later renamed X, according to a lawsuit filed in Boston.Jabin Botsford/The Washington Post ...

Bob Bakish had a golden parachute worth a whopping $69.3 million in severance compensation, which he received after the longtime exec was dismissed by Paramount Global as CEO in April 2024 ...

Former Norfolk Public Schools Superintendent Dr. Sharon Byrdsong will receive a year’s severance pay after being terminated by the School Board without cause.

RICHMOND, Va. (WRIC) — Richmond Mayor Danny Avula has released some details regarding severance pay made to former city employees since 2017. Avula released a document in the afternoon on Monday ...