Explain whether severance pay is taxable and why or why not.

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Create a severance package for a separated employee in a fictitious company that includes position differences, years of service, actual compensation amounts, and any additional benefits.
Explain whether severance pay is taxable and why or why not.
Create a chart depicting a fair and equitable timeline for disbursement of the compensation.
Use Microsoft Word or an equivalent application, such as OpenOffice. Cite one or more credible, relevant, and appropriate sources that support creation of a severance package.

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