Originally Posted by
Betty
Did you pay the whole thing back including the taxes or did you give them the amount you actually received and are waiting for the IRS to reimburse you before giving the rest?
I have 150k bonus that i may have to pay back for health reasons and I am wondering the same.
I paid back the whole amount. There is no other option.
Piedmont will only give you back the social security and medicade once you pay the money back, but they will not update your federal or state taxes. They cut you a w2 as if you recieved the money. So I think what needs to be done is sending an IRS form 843 to the IRS seperate of your return to ask for a tax forgivness of the difference you actually made. I was told that the bonus we sign says were responsible for recovings owed taxes so they are washing their hands of cutting a w2c.