I joined the firm in April 2020 and received a sign-on bonus for $20K. I will be leaving the firm on Dec 31, 2020.
There are typically two types of employee repayments, (a) repayment in the same year and (b) repayment in the subsequent year. I would like to avoid the headaches of dealing with the tax implications by repaying in the subsequent year.
My questions are:
1. If I resign within the same year (Dec 31, 2020) but the firm receives my payment in 2021, does that count as repayment in the subsequent year?
2. Can I repay a sign on bonus before my resignation date?
