Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Sep 17, 2023 6:01:23 AM

I signed a 5-year contract with my work. I was taxed on all income. I completed 1 year of the contract, but now I am leaving. Can I get those taxes back if its paid back?

The contract was to help pay for school over the course of 2.5 years. I was taxed each semester over that time.

0 4 954
4 Replies
Level 15
Sep 17, 2023 8:40:09 AM

For the rules on this, see Repayments on page 37 of this IRS Publication:

 

2022 Publication 525 (irs.gov)

Level 15
Sep 17, 2023 8:40:56 AM

@joshcall13gm-gma so let me understand..

 

your employer paid for your education (and of course you had to pay tax on that income)

 

Now, since you are leaving before the contract was satisfied, you are being required by your employer to return the educational moneys they gave you.  So since your income is being reversed, you are asking how to get the income tax you paid on that income back from the IRS, right? 

New Member
Sep 17, 2023 9:23:24 AM

Thank you

New Member
Sep 17, 2023 9:24:22 AM

Yes, that is all accurate.