{ "media_type": "text", "post_content": "I recently switched job and joined another B4 firm. As part of the hiring I was promised with a sign on bonus. Now I have received the sign on bonus twice, in back to back paychecks. I know I have to somehow return the second bonus to the firm. Does anyone know how taxes work on this? As both the bonuses were tax deducted prior to deposit, when I return amount do I need to pay back the withheld taxes to the firm as well? Asking as the amount is big and don’t want to go in the IRS route. TIA.", "post_id": "5fee5162686d9f0022f0ec1e", "reply_count": 11, "vote_count": 3, "bowl_id": "58f0df008ad7250010f8c590", "bowl_name": "Compensation" }

I recently switched job and joined another B4 firm. As part of the hiring I was promised with a sign on bonus. Now I have received the sign on bonus twice, in back to back paychecks. I know I have to somehow return the second bonus to the firm. Does anyone know how taxes work on this? As both the bonuses were tax deducted prior to deposit, when I return amount do I need to pay back the withheld taxes to the firm as well? Asking as the amount is big and don’t want to go in the IRS route. TIA.

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You may be able to get them to deduct that amount from future paychecks so as to not pay out of pocket, but it’ll be messy regardless.

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Let HR know and they will figure out with Payroll the proper way to correct it. Don’t let it sit.

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If a payroll error was made, I would report it. They will make the adjustment to both wages and payroll taxes as appropriate.

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Maybe they won’t notice, keep the money 🤑

likesmart

Email HR (and if there is a process open a ticket too) and let them know what happened. It will make you look good. Keep in mind you work for an accounting firm and ethical standards are high. Don’t make them come to you.

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Thanks! Also thought the same way and have reported this to appropriate people and authorities!

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Not let the greed overcome your morals.

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Keep that ish

I will Keep the money and will argue if they want to take it back.. that money was part of the offer before joining.

You got question wrong. I have been paid twice. So have to return one to make it even.

HR/payroll at your firm should be able to back it out, you’d pay back the net amount and it should also not show as income on your W2, but just make sure. I had similar issue many years ago (but paper check) so just didn’t deposit but w2 was a mess as took a few times to get correct.

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