Tax shelter for lump sum severance pay?

[Janitor Bob]

This is less of a tax preparation question and more tax planning...but over my head regardless.  Client's company is down-sizing and offering some employees a lump sum severance pay equal to 33 months salary to quit.  My client has asked me if their is any way to avoid paying Federal taxes on that entire lump sum if he accepts...as it will put him in the highest possible tax bracket for 2015 compared to a lower bracket if that pay were spread over years as it normally would be.

 

Client has already put maximum amount into his retirement account for 2015.

 

Any ideas? 

[kcjenkins]

Nope.