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Old 05-02-2018, 05:08 PM   #1  
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Default 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?
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Old 05-02-2018, 05:31 PM   #2  
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Claim hardship and throw yourself on their mercy.
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Old 05-02-2018, 05:35 PM   #3  
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Tell ‘em, “tough tiddies, go ask the IRS for the rest.”
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Old 05-02-2018, 05:57 PM   #4  
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You'll likely need real legal advice on this situation.
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Old 05-02-2018, 06:19 PM   #5  
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https://www.airlinepilotforums.com/envoy-airlines/112755-bonus-repayment-3.html
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Old 05-02-2018, 07:14 PM   #6  
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Quote:
Originally Posted by Learbubba View Post
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?
You will report it on your taxes as a miscellaneous itemized deduction under schedule A. Refer to the below link. If you pay someone to do your taxes, send them all your records of the bonus receipt and the bonus repayment.
https://taxmap.irs.gov/taxmap/pubs/p525-005.htm
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Old 05-02-2018, 07:23 PM   #7  
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Quote:
Originally Posted by Learbubba View Post
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?
How soon do they pay you the bonus? I figured they would at least wait till you are done with training or checked out on line
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Old 05-02-2018, 07:28 PM   #8  
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How soon do they pay you the bonus? I figured they would at least wait till you are done with training or checked out on line
The check is on your desk when your phone is walk into Indoc.
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Old 05-02-2018, 08:57 PM   #9  
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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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Old 05-02-2018, 09:35 PM   #10  
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Change your phone and email. No way to contact you!
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