There is probably a similar credit for your state tax return, but I: don't know the laws of all the states, you will need to do some research. The claim of right credit will take care of the federal income tax. However, if they paid your full salary, and you repaid them the bonus separately, then the W-2 is correct and can't be changed, and you handle the repayment issue via a claim of right credit or special tax deduction. If you and the company had agreed to withhold your final paychecks to account for the bonus, then your W-2 would reflect the net pay and you would not have a repayment situation. Your W-2 reflects the wages you were actually paid. Is the company required to provide this per IRS guidelines?
I am very sorry but there is nothing """""" can provide". They are saying "Repayment obligations to """""" existed independent of the ability to successfully recoup taxes on repayments from the taxing authorities. The company did not return Social Security or Medicare and they are refusing to send a W-2C. I paid back the amount that was not taxed. I got a sign-up bonus last year and left the company before the end of the year. I need to reclaim the difference in the tax I paid to IRS (*very roughly* $5800) for the 17 , I have a similar situation. I have already filed my taxes for year 2020 and it has been accepted, but haven't gotten the refund yet because of IRS delays.I repaid the bonus clawback in Jun 2021.
Upon my departure, as part of the sign-on bonus agreement, I was asked by the company to pay back part of the sign-on bonus. I left the company in March 2021, before a year was up.
I joined a company in July 2020 and got a sign-on bonus, at the time of joining.Is my company mistaken? If W2C is sent, should I be filing an amendment this year or go with the IRC 1341 credit next year? Are both options available to me? I was surprised to learn this, given I was told by folks on this community that a W2C is not possible given the payment was made in 2021, not 2020 (the year the sign on bonus was given). However, my company sent me an email that they will be sending me a W2C in 6 weeks. I had planned on filing a IRC 1341 credit with my 2021 taxes, next year, for the sign-on bonus repayment (see details below).
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