Thread: If I quit
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Old 08-03-2018 | 10:52 PM
  #38  
DanRoman
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Originally Posted by lookmom
So lets say that 40% taxes were withheld out of a bonus of $20,000; so that leaves you $12k after tax in your bank. So you’re saying if one leaves within a year, you owe back $20k? So that means you now have to scrap up another $8k that you never really received that Uncle Sam took and give that back to the company? Is there a way to recoup that tax money you had to payback out of your own pocket when you file taxes at the end of the year? Or are you purely screwed?
Yes you would owe the full amount back despite not receiving the full amount due to taxes. You can recoup the loss during tax time but you have to be sure and get documentation of the repayment from the company.
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