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-   -   Returning Sign on Bonus - How does tax returns work? (https://www.askmehelpdesk.com/showthread.php?t=132456)

  • Sep 22, 2007, 11:35 AM
    AjayNampally
    Returning Sign on Bonus - How does tax returns work?
    I am offered sign on bonus of 10000 USD.
    Restrictions: I get 30% if I stay 13 months with my employer.
    My Question: After taxes, I get around 7000K. If for some reason, I leave my employer before 13 months, I need to return all 10000, though I got only 7000 in hand.
    How do I go about rest of the 3000, which I paid in taxes? Is there any procedure to get my 3000 back on tax returns?
  • Sep 22, 2007, 01:13 PM
    AtlantaTaxExpert
    The bonus IS taxable income, so you may not get it all back.

    The $3,000 withholding will be reflected on your W-2.

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