Bonus Payback - taxes?
05-02-2018, 05:08 PM
#1
New Hire
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Joined APC: May 2018
Posts: 1
Bonus Payback - taxes?
So I took the bonus at Envoy but ended up having to leave (family reasons) after 2 weeks. Here's the issue, I netted $11.5K of the $17.1 K bonus (taxes.) Well they want me to pay back $17.1K and say I'll get the rest back from the Govt next year. Anyone have any experience with this or know any way around paying back money I didn't get?
05-02-2018, 07:14 PM
#6
Gets Weekends Off
Joined APC: Aug 2013
Position: FO
Posts: 627
So I took the bonus at Envoy but ended up having to leave (family reasons) after 2 weeks. Here's the issue, I netted $11.5K of the $17.1 K bonus (taxes.) Well they want me to pay back $17.1K and say I'll get the rest back from the Govt next year. Anyone have any experience with this or know any way around paying back money I didn't get?
https://taxmap.irs.gov/taxmap/pubs/p525-005.htm
05-02-2018, 07:23 PM
#7
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Joined APC: May 2007
Position: A320 Captain
Posts: 1,982
So I took the bonus at Envoy but ended up having to leave (family reasons) after 2 weeks. Here's the issue, I netted $11.5K of the $17.1 K bonus (taxes.) Well they want me to pay back $17.1K and say I'll get the rest back from the Govt next year. Anyone have any experience with this or know any way around paying back money I didn't get?
05-02-2018, 07:28 PM
#8
Gets Weekends Off
Joined APC: Jul 2017
Posts: 1,729
05-02-2018, 08:57 PM
#9
Gets Weekends Off
Joined APC: Jan 2013
Posts: 294
I know for 2017 you should be able to itemize the deduction. But for 2018 and forward, I don't think you can, unless you can still beat the new (higher) standard deduction. But also keep in mind, you can't deduct as many things under the new plan, that you could before. But as someone wlse already said, this is a unique situation, so you may need to consult a tax attorney.
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