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FourWayFork t1_jae5htd wrote

I would start by informing HR that you didn't actually receive the $20K. Show them the deposit record from your bank.

I can't fathom somewhere with an actual HR department (as opposed to just a cheap owner trying to make a buck off of someone) expecting somebody to pay back a bonus they did not receive.

Edit: I didn't realize that you meant the extra was for taxes - I thought you meant they had literally only paid you part of the bonus (as though it was paid in installments or something). You can potentially have them withhold no taxes on your final paycheck, but that obviously isn't going to make up for $7000.

You're really just going to have to deal with it until you get it back on your taxes. You can potentially have little/nothing withheld from taxes on your new job to try to make up the difference.

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InteriorAttack t1_jae5v5e wrote

OP got the money minus taxes, spent it before the payback date in the contract and now doesn't have the money.

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Novaham OP t1_jae7p1f wrote

I never had the money to spend. I only received $13k. I do have that. I don't have $20k though.

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Admirable_Nothing t1_jaeg86l wrote

Yes you do have $20k. You have the $13k they gave you and they have contributed $7k into your withholding account at the IRS. Depending on the dates you may get the $7k back this year or it may be next year when you file taxes. To get it back sooner lower your withholding from your future paychecks. Why? You already have $7k on deposit with the IRS for this year's taxes.

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Novaham OP t1_jaely22 wrote

Sorry, I meant I don't have $20k on hand to pay back in 30 days. I don't think I will be able to come up with $20k in 30 days.

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Prestigious_Big_8743 t1_jae6005 wrote

I think the point they are making is that the bonus was taxed - so they didn't receive $20k, but the after tax amount. However, HR doesn't care, they want the pre-tax amount, and you correct the taxes to show you didn't actually receive that income. Refunding the taxes paid on your behalf.

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FourWayFork t1_jae6q8j wrote

Okay, that makes sense then.

You basically have to take care of it when you file your taxes.

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