Hello,
My company said they will send me a W2C in 6 weeks for a sign on bonus clawback payment. I plan to file an amendment with that for year 2020, if I get that W2C to reclaim the difference in tax. Can I do that or does the W2C cover only the payroll of the company? Also, would the amendment cover SSN + Medicare differences as well? I have to reclaim the difference between Federal, NY State, NY City, SSN and Medicare. The total difference is roughly $5800 and the difference between SSN + Medicare is roughly $1020. I have requested my company to refund me the $1020 - they said I will need to sign a form that I acknowledge that I won't claim that amount from IRS - I am willing to do that, however not sure about the cons.
DETAILS:
- I joined a company in July 2020 and got a sign-on bonus, at the time of joining.
- I left the company in March 2021, before a year was up. 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 repaid the bonus clawback in Jun 2021.
- 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 need to reclaim the difference in the taxes I paid to IRS/NYState&City/SSN/Medicare (*very roughly* total $5800) for the bonus.
