Reneging an offer : Tax implications on sign on bonus already received

OSIsoft
GoThrones

Go to company page OSIsoft

GoThrones
Aug 22, 2018 23 Comments

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?

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TOP 23 Comments
  • PeerStreet / Other
    6’6 Indian

    PeerStreet Other

    PRE
    Amazon
    6’6 Indian
    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.
    Aug 22, 2018 16
  • Amazon
    justa

    Go to company page Amazon

    BIO
    L
    justa
    Why the fuck does this have Google and Facebook tag
    Aug 22, 2018 0
  • Qualtrics
    gr00t

    Go to company page Qualtrics

    PRE
    Cisco
    BIO
    I am gr00t.
    gr00t
    When you do your taxes, you will have paid more taxes and could get it back in a refund.
    Aug 22, 2018 1
  • 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.
    Aug 22, 2018 1
    • New / Eng
      sc@l@

      New Eng

      sc@l@
      What really hurts startups is their 10% chance of short term survival :) , not some low paid unskilled staff member bailing out.
      Aug 22, 2018
  • Kaneva
    Player-1

    Kaneva

    Player-1
    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.
    Aug 22, 2018 0