Hi! I got an offer from Amazon last year which was rescinded. I already received the relocation allowance before they rescinded the offer from Graebel (amazon's relocation partner). After asking them about the amount, they said I can keep the money. I received a simple expense report from graebel which doesn't really mention anything about tax(which also doesn't look like a W2 or any other tax form). I was wondering what could be the best way to handle the tax for in this scenario. If anyone has navigated a similar scenario and can offer insights or share their experience, I would greatly appreciate it. Thanks! #irs #tax #cpa
It appears Graebel grosses up the relocation pay and pays the tax on it.
But they don’t pay the IRS on behalf of the person do they? Don’t they gross up as a W-2 withholding and then make the recipient file tax?
They already paid tax on it. It’s all yours, congrats
Wrong
What’s wrong?
Graebel should have issued a 1099 Misc for that money. Even if you don't receive the form pay taxes on the money received for peace of mind. There is a place on your W2 for miscellaneous/other income. You obviously need to contact Graebel for clarification on why you didn't receive a 1099.
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You received the money and kept it right? Then you should pay tax on it, simple. But if you had joined Amazon, they would have reported the amount in your W-2 as income, which you don’t have. Sounds like you need to request a 1099 to Graebel.