Paying back signon bonus
Need to payback prorated signon bonus after putting down my papers. How long do we generally get to pay it back? Since I have to bear the taxes, I guess I don’t have to pay back fica at least.
Need to payback prorated signon bonus after putting down my papers. How long do we generally get to pay it back? Since I have to bear the taxes, I guess I don’t have to pay back fica at least.
You will need to pay back the FICA portion too since they were taxes paid on your behalf. The company will issue you a corrected w2 at tax time reflecting it. Payback period varies from company to company, but generally, you only have a few months. It’s common courtesy not to spend (or accept) a bonus you have no intent of fulfilling the terms for.