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Q: Tax question - repaying a signing bonus ( No Answer,   2 Comments )
Question  
Subject: Tax question - repaying a signing bonus
Category: Business and Money > Accounting
Asked by: azwildcat10-ga
List Price: $5.00
Posted: 13 Dec 2005 13:02 PST
Expires: 12 Jan 2006 13:02 PST
Question ID: 605413
I received a $10k signing bonus repayable upon voluntary termination
of employment prior to a year.  The company is exploring startegic
alternatives and will be sold within 6 months.  I have offered my
resignation and they have told me I owe back the entire pre-tax bonus.
 Is this fair? Any grounds for an appeal?
Answer  
There is no answer at this time.

Comments  
Subject: Re: Tax question - repaying a signing bonus
From: leskowitz-ga on 13 Dec 2005 21:28 PST
 
Sounds similar to what happen to someone I know.  Received bonus,
repayable upon voluntary termination, he quit prior to end date, he
hired an attorney and settled paying back half.  He should have lost
though.  They settle to avoid the hassle.  Good Luck.
Subject: Re: Tax question - repaying a signing bonus
From: business1234-ga on 23 Jan 2006 09:10 PST
 
Employment law is a very state specific issue.  The answer will depend
on the states involved.

However, if your contract says that you owe the money, why would you
think that you don't?  If you pay it back across a calendar year end,
you also raise interesting tax issues.

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