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posted Apr 6, 2025 9:08:48 AM

Previous employer overpaid in 2024 and I repaid back that same year.

Hi,

 

My previous employer had a payroll error where they continue to pay me after I no longer worked there (contract was until end of 2023, but kept getting paid at the start of 2024). I contacted them and they fixed their issue and asked me to repay the amount. I repaid the amount in the same year and was told they were going to update my W-2 for 2024, however when I received my corrected W-2, they did not adjust box 1 (wages, tips, and other compensation) and only adjusted boxes 3-6. I have yet to file as I don't understand why they did not adjust box 1.

 

Does this mean I will have to pay income tax on the overpaid amount, despite me not having "actually" received that amount?

 

 

 

 

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1 Replies
Expert Alumni
Apr 6, 2025 2:48:37 PM

You should talk to your employer/payroll company and ask them for a corrected W-2 to reflect your repayment of your overpaid amount. If they overpaid you and you paid it back in the same tax year then your W-2 should reflect this.