Someone made a post about whether FB's core relocation package is taxable or not on here awhile ago but I can't find it anymore. The apparent answer in that post was that it is taxable but that FB pays the taxes on your relocation benefits. Based on reading the relocation policy on the internal website, I think that's not entirely accurate.
It appears that FB pays the withholding on the taxable relocation benefits, but if the withholding is less than what you owe in taxes on the relocation benefits, then YOU are responsible for the remainder of the taxes. However, if the withholding is more than what you owe in taxes, then it seems you get to pocket the difference when filing tax returns. So seems like the best scenario would be if more is withheld than taxes owed on the taxable relocation benefits. Did anyone else interpret this way or am I full of shit?
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Just my thoughts on that part of the scenario.
I don’t think getting more withheld than owed is always doing it wrong. For example, NY state just increased their withholding to like 13% for bonuses when their highest state tax only goes to 10%. Pretty dumb if you ask me. Idk how it works with federal taxes. This is my first real job so haven’t had much experience with withholding before