Reneging an offer : Tax implications on sign on bonus already received
Got an offer from Barclays and they paid 10000$ (pre tax, I actually received approx 7000). But I am now going to decline the accepted offer. My offer letter had mentioned that I need to return pre-tax money. So will I be able to get the difference back or it will be a loss for no reason?
You are the worst type of person. There are millions of people who would’ve loved to have this job but you throw it away like an inconsiderate PoS. People who reneg are the reason society is the way it is.
Naw
Damn didn’t know it was that serious? People renege all the time for a variety of reasons. If your dream job came along within a few days of accepting a different offer, wouldn’t you do the same? If you say no you’re lying
Chill. Companies, even big ones, revoke offers weeks or days before joining too for a variety of reasons. Happens everywhere and it's a two way street. I agree that reneging at a small startup might really hurt them, but at a company like Barclay, I guarantee it happens both ways very often.
What really hurts startups is their 10% chance of short term survival :) , not some low paid unskilled staff member bailing out.
If you paid taxes on a bonus you are returning, you can get it back end of year when you do your taxes and your adjustment is reported.
Why the fuck does this have Google and Facebook tag
When you do your taxes, you will have paid more taxes and could get it back in a refund.
Wouldn't it show up as income? Do I need to do some extra step to get it right?