#tax

Did you also see $300 wellness spending account showed up as taxable benefit on your pay slip even though you haven't made claim for 2026?

As a matter of principle this could cause inaccurate personal tax reporting. Just the sheer of incompetence. Opened a ticket and still waiting.

Let's see if another gong show happening on April 1 with HR system transformation.

Citi former employee here. There is an error on my W2, which prevents me from claiming local tax return. Anyone can give me a Citi phone number I can call to correct this? very much appreciated!

Story by Danielle Smith

Shell is reportedly struggling to recoup its massive investment in Pennsylvania’s petrochemical sector, with weak fourth-quarter returns renewing concerns the project has underdelivered on jobs, growth and profits.

The company is seeking a buyer or partner for its Shell Polymers Monaca plant and may never fully recover its $14 billion investment in the venture, according to a report from the Ohio River Valley Institute.

Kathy Hipple, research fellow at the institute and the report's co-author, said data show Shell received a major state tax subsidy intended to build a regional petrochemical hub. The company has already collected about $90 million and could keep receiving roughly $60 million to $65 million a year if the company continues to purchase and process more than a billion gallons of ethane annually.

She pointed out Shell has begun to sell off tax credits intended to support the local petrochemical industry.

"By law, they are able to sell these tax credits," Hipple acknowledged. "So far, they seem to have sold 100% of the tax credits that they have received to other companies that are not in the manufacturing industry. They're usually in the insurance industry. Sometimes they're not even in the region."

Hipple noted the Pennsylvania Resource Manufacturing Tax Credit’s “lookback provision,” set to trigger in 2028, could allow legislators to reevaluate the flow of tax credits to Shell Polymers Monaca. Lawmakers can assess whether the facility has met its original objectives and if it has not, consider modifying the incentive.

Anne Keller, also at the institute, said the state’s tax credit structure was unusually generous. The program effectively gave Shell a five‑cent discount on every gallon of ethane feedstock the plant uses. She spoke with an industry analyst who explained lawmakers initially discussed capping the subsidy at 30,000 barrels per day but the limit never made it into the final legislation.

"The bottom line was that the plant use it, and that is a very, very significant discount for a plant like this," Keller emphasized. "These are big commodity manufacturing facilities and feedstock is one of the critical cost elements that allows them to be profitable."

The report stated Shell has not fulfilled its commitments for job creation or local economic development. Since the 2012 announcement of its ethane cr--ker project, Beaver County’s GDP has fallen 12%, the local population has dropped by 3%, and employment has declined more than 13%.

https://www.msn.com/en-us/money/markets/shell-failing-promises-as-it-seeks-exit-from-pa

So when I accepted the VRSP and received my pay out I was heavily taxed. Then to add insult when I received my W2 my severance was also included in there as well as if I had worked for the company longer then I had. Therefore taxed twice on the payout and not just once. Horrible company.

https://www.eisneramper.com/insights/tax/halting-international-relocation-employment-act-1225/

“ As drafted, the HIRE Act would create IRC Sec. 5000E, which would impose a 25% excise tax on any “outsourced payments” paid to a foreign person who performs services that benefit U.S. consumers. The tax would not be deductible under IRC Sec. 275. It would also disallow companies from deducting any of those outsourced payments under IRC Sec. 280I. Penalties to pay any excise tax would be increased to 50% a month and would not be subject to the 25% aggregate penalty limitation under IRC Sec. 6651(a).”

Are we eligible to claim tax relief on pension contributions? Noticed that the deposit into the pot would be numbers from payslip only.

The stock is down 6.5% over the past six months.

Under the employee stock purchase program, shares are acquired at the end of each six-month period. At that time, a charge appears.

Is that charge simply the cost of the shares purchased, or does it also include taxes on any profit?

My understanding is that the shares are purchased at the lowest price during the previous six months. If the stock price is higher at the time of purchase, the difference may be treated as employment income and taxed accordingly.

If the stock price drops shortly after purchase, does that mean you effectively paid tax on income that you never actually realized?

I quit the company in April 2025 and need my W2 to file taxes. I tried to call myHR Phone (844-DFS-myHR or 844-337-6947) but I keep getting sent in circles by the Discover/Capital One automated voice messaging system.

Can anyone help with this?

Robbinsville School District seeks voter approval for a $5 million tax increase. A special election is scheduled for March 10. Without approval, the district faces a $2.2 million shortfall in 2026-27. This could lead to over 30 staff layoffs and cuts to sports and clubs. Declining state aid and rising costs contribute to the budget deficit.

https://www.nj.com/education/2026/02/nj-school-district-may-cut-sports-slash-30-jobs-if-voters-dont-approve-tax-hike.html

tax forms were delayed. Shareholders must have their 1099 DIV/B or R to file. This is a critical, highly regulated function. Today, they appeared on the websites, then magically, deliciously disappeared because FIS is a fintech company with cr-ppy tech. They were restored, but why create a reliable reputation with clients now?

Dear Mr. President,

I am reaching out to you today to share with you, my story. I work for The Cigna Group as a programmer. Last month Cigna decided to terminate 100's-1000's of our Doctors, Nurses and talented technology employees - Recently Cigna agreed to pay a 600-700M "charge" and has decided to terminate 7,000-15,500 full time employees and offshore their work investing heavily in a new "Hyderabad Innovation Hub" "HIH located in India. They think terminating and eliminating US workers to pay for David Cordani and Cigna's Executive leaderships poor decisions is acceptable.

Recently I have begun learning AI automation and wanted to share my idea how to protect America's work force from Outsourcing and offshoring our jobs to other countries. I think if you were to post draft of an Executive Order or a new article on TS saying my administration is reviewing options to create a new executive order protecting American Patriots work force, stating if Corporations like Cigna plan to move US workers "jobs" to India or other foreign counties they should plan on paying HUGE new tariff\tax or fee on the US healthcare data that originates in the US to be sent overseas. Expecting US Patriots to train the offshore company to "Transform, Manipulate, Re-Work" the data and then send it back to Cigna (or other corps in the US) to then send to their clients like the NFL, Disney and Amazon - they should plan on paying a new ridiculous amount of money to be allowed to do this. It's not just Cigna it's all corporations are doing this and if we do not take actions to stop it - I predict we will lose Half of the US jobs in the next 3-5 years. It's a Major Threat to the US economy and imagine if we lose half the current federal tax income and Social Security will fail. Imagine half of America unemployed with no work homeless living in the streets - a real AI generated "GREAT DEPRESSION" is on the horizon.

I am not saying it should be illegal for corporations to offshore, but I think if they want to use AI Agents Modules and Tools to replace the American work force, they should have to do it located in the US with either HB1 or US talent. If they move this work offshore to other countries to save money, they should have to pay a huge penalty to do it. I think even if you posted a message on TS that we are looking at that your words would stop companies like Cigna in their tracks from moving forward until they learned more from your administration's policies on it. I would like to see you propose an executive order like "The Great American AI Patriots Jobs Protection ACT" laying out how we are not going to let US corporations outsource Americas data to other countries to re-work it and send it back to the corporations to send to their US clients without penalties.

I would like to see you mention directly if David Cordani (CEO) Brian Evanko (CFO) Kari Stevens (HRVP) this this is a new business model they should sell the Cigna HQ in CT and relocate the HQ to India and stay there. David and the ETL team can sell all their mansions in Simsbury CT and go buy palaces in India.

Please really think this through as I think this will go down as a Major Accomplishment in your legacy and would help the Mid-terms in November and for decades to come in the future. Remembered as first President to protect America's work force from AI development. The day you put a stop to this and standing up to protect the US Patriot work force.

I posted my story TS under my ID "IQ120s" this morning, but the TS admins banned my account for "spamming" under the terms of service section "8".

You might be our only hope, the person with the power to stop this potential AI Great Depression on the horizon and being able to avoid it and save America's work force.

FYI if u have Verizon stock in your 401k and choose to select cash instead of dividend reinvestment it gets treated as regular income when the dividend pays.

Just like this coming Monday.

Even though it’s coming from the 401k.

No penalty and depending how much stock you have can add up.

Just saying

Missouri lawmakers are debating a plan to replace the state income tax. Governor Mike Kehoe's proposal would instead implement increased sales taxes. Voters would decide on this change in November if the bill passes. Supporters believe it will attract businesses and young professionals to Missouri. Critics worry about the financial impact on residents with fixed incomes.

https://www.kctv5.com/2026/01/28/missouri-debates-major-shift-income-tax-sales-tax/

Trump, two sons, Trump Org sue IRS, Treasury for $10 billion over tax records leak!

Are you going to write the check to your Boss’ brats?

My severance ended last May, but I haven't received a W-2 yet. Does anyone know when they are going out this year?

Have they started mailing tax forms yet?

Worked for Wayfair for over 10 years and they have never been this late with W2s. Sick of waiting, anyone else got theirs yet?

Anyone else get theirs? Former employee and haven’t seen mine come in the mail yet.

I just saw my severance lump they took close to 20000 in taxes do we get any of that back

U.S. Government needs the (future) Tax revenue from (New children) born in the U.S.

Since households are having less children over time.

In 2025, it was 1.6 children per household.

1946 - 1964 - Baby boomer generation it was 3.6 children per household.

Inflation expenses.

How does it feel to see the first one hit the account? Between this and the new tax for paid leave in MN we are making less than last year as they tighten the sc--ws and ask for more from us. Time for a new job.

Why come we get many tax taken by gov between fed & state we losing more 1/3 of pay wtf ppl how do we keep from being robbed I need to save it this us bunk, hello?

Currently, the U.S. levies no tax on U.S. firms’ overseas earnings as long as those profits remain overseas. That policy essentially encourages companies to reinvest their profits outside the U.S. And to give companies even more incentive to hire overseas, the Internal Revenue Service allows companies that move factories abroad to deduct from their taxable income the cost of closing their U.S. plants.

So my off payroll date is December 19, but reading the severance agreement and FAQ it looks like I have 45 days to sign the agreement, which means I could sign it in January 2026. So on a cash basis I would think this means the severance payment would be for my 2026 tax year and keep me in a lower tax bracket.

Has anyone else considered this approach? Would any benefit or payments be given up by delaying like this or is the only real drawback just a delay in receiving the severance payment?

did any remote workers get a notice about paying local taxes? If so can somone please explain what is going on please?

The Fed, AI; and the (Real) U.S. economy -

In this U.S. economy.

A spending spree (most likely) will (not) happen.

Lowering Interest rates in a Major Recession (type) of environment for now, but reality mid-2026; which I still project (if current trends continue).

In fact, it takes Fixed Income Interest gains (out) of the U.S. economy.

Won't matter, the Unemployment rate will continue to rise into 2026.

Several factors have (and are) contributing, Trump tariffs; AI, pandemic overstaffing; and High Inflation for the U.S. consumer.

There are positives to AI, but the Negatives are -

Replacement of entry-level white-collar jobs (taking away opportunities) less employees means less Tax revenue paid, and Increasing utility prices (electricity) due to Increased strain on the power grid by AI data centers.

The U.S. National debt (currently) stands at $38.2 Trillion (exponentially rising over time) with Interest paid of $969.0 Billion a year (almost a Trillion a year) by U.S. Taxpayers (not AI) to outside Investors (U.S. based, Japan, China; etc.) who finance it over time.

These are the facts.

Is there any way to get it in multiple payments? I'm asking because of the taxes.

Does anyone know when the severance checks will be sent or direct deposited? I am trying to figure out that if my last day is 12/19 when will the checks or deposit be dated. Will it be dated 12/19/25. Or 4 weeks later so we get paid in January 2026? It’d be better federal tax wise to be paid in 2026, wouldn’t it? I just can’t tell by the wording in the severance documents. I’ll call them tomorrow, but wondered if anyone here had some insight.

Companies that offshore jobs should be taxed heavily. It’s essentially “exporting” jobs oversees. Verizon would have to pay a huge bill on that case.

How is the taxes on the package calculated ? Wont all the money coming the package go into IRS ? Are there ways to protect the person in trouble ?

As the city faces a shortfall, Mayor Lisa Brown unveils a proposed budget that includes at least 20 cut positions and a new tax aimed at stabilizing city finances.

https://www.krem.com/article/news/local/spokane-mayor-proposes-budget-cuts-new-tax/293-deac3673-adf3-4822-84cb-eafcbf4cbe1a

Under certain conditions you are now going to pay taxes on your UNVESTED RSRs. So you don't get sh*t for 4 years, but you get to lose shares due to the FICA taxes on them.

I understand this is IRS law but still.

What does it say about us that when a man steals $100 worth of stuff in a C store he will spend time in jail, but when a man in a suit lies, cheats and steals hundreds of millions of dollars in ill gotten gains and tax breaks funded by the very people he stole from ends up in our government?

i heard they take 50%??????? can we defer this for 2026 as i'll have low income that year

What happened to all the good high paying jobs and growth the company promised when they took all those tax incentives from Suffolk county?

I’m not sure why the original post on this topic was taken down, but I’ve updated the content to align with TheLayoff.com’s posting guidelines. The information below is fact-based and summarized from publicly available corporate and tax principles. Hopefully this version allows for a constructive discussion around Chevron’s ENGINE setup in India and its possible business implications.

⸻

Summary of the Situation

Chevron has invested approximately $1 billion in its Engineering and Innovation Excellence Center (ENGINE) located in Bengaluru, India. While this expansion is intended to improve efficiency and global project collaboration, there may be long-term tax and compliance costs associated with how the operation is structured under Indian law.

The following sections outline general, factual information based on standard international taxation frameworks such as Permanent Establishment (PE) and Transfer Pricing — not internal Chevron data.

⸻

1. Permanent Establishment (PE) and Tax Liability
   • If a foreign company establishes a fixed place of business in India (for example, an engineering or project office), Indian authorities may classify it as a Permanent Establishment (PE).
   • This triggers tax obligations on profits attributed to work performed in India, even if the project serves clients elsewhere.

⸻

1. Profit Attribution
   • Under Indian law, part of a company’s global income can be taxed locally if significant value creation or management occurs in India.
   • For instance, if Australian or U.S. projects are executed by teams in India, India can claim a portion of those profits for taxation.

⸻

1. Taxation of Foreign Subsidiaries
   • Corporate Tax: Subsidiaries or branches in India are taxed on income earned locally, typically around 22% (plus surcharge and cess).
   • Transfer Pricing: Intercompany transactions (e.g., management fees, subcontracting, asset transfers) must follow India’s arm’s-length pricing rules.
   • Withholding Tax: Payments from India to foreign parent entities (royalties, fees, or dividends) may face withholding taxes depending on applicable treaties.

⸻

1. Cross-Border and Expat Implications
   • Projects Managed from India: Even if work supports projects in Australia or the U.S., India can still tax the related income if the work is performed domestically.
   • Foreign Expats in India: Employees from other countries working in India may be taxed under Indian income tax laws based on their residency status.

⸻

1. Estimated Financial Impact (Industry Benchmarks)

Benchmarking studies (e.g., from KPMG and EY) indicate potential cost impacts in several areas:
• Transfer Pricing Adjustments: 5–15% increase in taxable income due to stricter cost scrutiny (e.g., management fees, FX losses, share-based pay).
• Profit Attribution: 15–25% of global project profits could be attributed to India for high-value engineering or design work.
• Compliance Costs: Ongoing regulatory, IT, and operational costs may total $2M–$5M annually depending on scale.

Five-Year Projection (2025–2030):
• Transfer Pricing Adjustments: estimated at $10 million to $20 million per year, totaling $50 million to $100 million over five years.
• Profit Attribution Tax Impact: estimated at $15 million to $30 million per year, totaling $75 million to $150 million over five years.
• Compliance and Administrative Costs: estimated at $2 million to $5 million per year, totaling $10 million to $25 million over five years.
• Total Global Business Unit Cost: approximately $27 million to $55 million per year, or $135 million to $275 million over a five-year period across all Chevron business units utilizing the Indian center.

⸻

1. Strategic Considerations

While India offers substantial cost and talent advantages, aggressive profit attribution and tax compliance requirements could partially offset those savings. This highlights a broader issue many multinationals face when expanding shared services or engineering hubs abroad.

⸻

Sources:
• Indian Income Tax Act and Transfer Pricing Rules
• OECD Guidelines on Permanent Establishments
• Public benchmarking data from KPMG and EY

⸻

Would be interested to hear others’ perspectives on how these kinds of global engineering consolidations impact overall efficiency and cost management across Chevron’s business units.

H1-B holders are disappearing

Next trip is heavily tax and higher tariff on companies hiring on offshore operations.

Analysis By NAN Business Editor
News Americas, Georgetown, Guyana, Tues. Oct. 14, 2025: ExxonMobil’s Guyana President, Alistair Routledge on Monday claimed the company is “still operating in the red to the tune of around US$6 billion” in Guyana, as he retorted over to a question by three U.S. senators on the company’s tax breaks. So which number is closer to reality: $6 billion or $3.4 billion in losses?

What Routledge Said
Speaking at Exxon’s Ogle, East Coast Demerara headquarters, Routledge told reporters that the NGO Oil and Gas Governance Network, (OGGN) may have misled U.S. senators about the company’s tax filings. He said that ExxonMobil Guyana is still operating with a negative cash flow of around six billion US dollars.

“We continue to be actually cash flow negative on an accumulative basis… we are probably still around six billion US dollars in negative cash flow as we look at the cumulative expenditures and cumulative revenues that we’ve seen from the Stabroek Block,” he told reporters.

Routledge asserted that in ExxonMobil Corporation’s 2023 and 2024 tax filings, there were no Guyanese tax credits included in either of those filings, “and you would recall that prior to 2023, we were not making profits here in Guyana, so there were no tax credits from that. Up until this point, there have been no Guyana tax credits used by ExxonMobil.”

The Alternative Figure: $3.4 Billion
But Exxon’s own Guyana website identifies a different figure: US$3.4 billion in red ink — even while acknowledging an accounting profit in 2024. According to Exxon’s 2024 financials:

Gross production rose sharply with the Prosperity FPSO, boosting revenue for all partners

Despite posting an accounting profit, the company said it remains “in the red” by US$3.4 billion

Exxon and its co-venturers have invested a cumulative US$55 billion in Guyana to date.

This divergence begs the question: how can a company be both profitable on paper and yet claim to be billions in losses?

The Contractual Context
Under the 2016 Production Sharing Agreement (PSA), Exxon’s Guyana deal allows it to recover up to 75% of its share of oil revenue for cost recovery before profit payments begin. In practice, this means a large portion of early revenue goes to recovering the developer’s costs- capital, exploration, infrastructure – leaving little net profit early on.

Furthermore, financials for 2024 show:

Operating expenditures of GYD 477.6 billion

Depreciation/amortization at GYD 301.8 billion

Exploration, production, royalties also eat into margins

These mechanics help explain how Exxon could legitimately claim negative cash flow despite strong revenues.

Why It Matters for Guyana
The optics of a $6B loss vs $3.4B matters deeply for public trust, fiscal policy, and future licensing. Guyana has collected over US$6.2 billion in oil profits and royalties since 2020 – so when Exxon claims it’s in the red, critics say the narrative raises concerns about transparency and fairness. If Exxon can delay or reduce profit sharing through cost recovery claims, that changes the magnitude and timing of what Guyana as a partner actually realizes.

Bottom Line
Both $6 billion and $3.4 billion claims could contain grains of truth, depending on accounting methods, timing, amortization and recovery policies.
Routledge emphasized cash flow negativity and absence of Guyanese tax credits in filings.

Exxon’s public data insists on a lower loss figure despite profits.

The discrepancy boils down to methodology, timing, and cost recovery mechanics.
So, while the $6B figure commands headlines, the $3.4B estimate rooted in Exxon’s own reporting asks where did the almost three additional billion come from?. It’s really a question of how loss and profit are really defined.

https://www.newsamericasnow.com/exxonmobil-guyana-loss-vs-profit-2025/

I guess I was a sleep at the wheel and misssed this announcement. Did anyone hear from Oxy about the new rules for the catchup portion of our 401K. It looks like you might still be able to add to a Roth, but I used the pre-tax catachup for years now since I am older and could use it. I guess the govt needs more upfront tax dollars. This is an extra 2K a year I will be paying in taxes. Glad I am retiring in 2026.

https://www.foxbusiness.com/economy/some-americans-lose-popular-401k-tax-break-major-retirement-rule-change-starting-2026