Received 7k for relocation stipend from Amazon. Will I need to pay taxes on it eventually? TC: 80k YoE: 1.5
Ask, usually stipends will directly be sent to your bank account like a bonus with taxes covered for you so that you get the full 7k amount.
It is taxable.
The offer letter says that they do stuff to take care of the taxes
Usually they pay out more than the 7k to account for taxes. They actually pay out something like 10k, so that when the 30% is taken out it results in the flat 7k total.
7k is after tax amount they are giving you. You don’t have to pay extra on 7k.
If 7k has hit your bank account, then no, they've already withheld taxes. You might pay a few hundred or get a few hundred back when you file your taxes, though, because the withholding is not perfect.
Keep the paper works with you for the next tax filing season.
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