Early this year, I joined a company and they gave me $10000 signing bonus. In the offer letter, it says that if I leave within one year, I will need to pay back some portion of the signing bonus based the how many months I worked there. After 12 months, I can keep all.
After 5 months, I left and they asked me to pay back $5800 (7/12 * $10000). So I paid back. When I ask them to make sure this will be reflected on the W-2 (the actual pre-tax of the bonus should be adjusted to $4200 on the W-2 form), they replied as this: If a terminating employee is required to repay a portion of a signing bonus, no payroll adjustments are made. That means the employee is liable for taxes on the entire signing bonus amount and no adjustments are made on the tax form W-2.
I totally don't understand this. Why do I have to pay tax for $10000 though I actually received $5800? Is this reasonable? what should I do? They are reluctant to answer my email now.
Any help is appreciated.
After 5 months, I left and they asked me to pay back $5800 (7/12 * $10000). So I paid back. When I ask them to make sure this will be reflected on the W-2 (the actual pre-tax of the bonus should be adjusted to $4200 on the W-2 form), they replied as this: If a terminating employee is required to repay a portion of a signing bonus, no payroll adjustments are made. That means the employee is liable for taxes on the entire signing bonus amount and no adjustments are made on the tax form W-2.
I totally don't understand this. Why do I have to pay tax for $10000 though I actually received $5800? Is this reasonable? what should I do? They are reluctant to answer my email now.
Any help is appreciated.
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