How do I handle the taxes from my bonus? 2 Answers as of September 07, 2010

I was given an $8,000 dollar sign-on bonus earlier this year. Now I am leaving and will have to repay it because of the contract. How do I handle the taxes?

Free Case Evaluation by a Local Lawyer!

Enter Zipcode or for Immediate Assistance call (888) 428-7281

Have a general legal question? Click here

Ask a Local Attorney. 100% Anonymous. Free Answers.

Or for Immediate Assistance call (888) 428-7281

Free Case Evaluation by a Local Lawyer: Click here

E. Ray Critchett, Zaino & Humphrey, LPA | Ray Critchett

The answer will depend on a variety of factors such as whether the money was issued and returned in the same calendar year, whether or not it was reported by the company in your W-2 or in a 1099, etc. Our office would be able to assist you if we had additional information.

You may contact our office to schedule an appointment if you have further questions or if you need assistance with this issue. Thank you.

Answer Applies to: Ohio

Replied: 9/7/2010