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InteriorAttack t1_jae5v5e wrote

Reply to comment by FourWayFork in I received only $13k of $20k sign on bonus, now I have to pay back $20k. by Novaham

OP got the money minus taxes, spent it before the payback date in the contract and now doesn't have the money.

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Novaham OP t1_jae7p1f wrote

I never had the money to spend. I only received $13k. I do have that. I don't have $20k though.

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Admirable_Nothing t1_jaeg86l wrote

Yes you do have $20k. You have the $13k they gave you and they have contributed $7k into your withholding account at the IRS. Depending on the dates you may get the $7k back this year or it may be next year when you file taxes. To get it back sooner lower your withholding from your future paychecks. Why? You already have $7k on deposit with the IRS for this year's taxes.

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Novaham OP t1_jaely22 wrote

Sorry, I meant I don't have $20k on hand to pay back in 30 days. I don't think I will be able to come up with $20k in 30 days.

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