What is the name of your state? MA
I received a relocation package of 10K when joining my current company. After tax deduction the actual amount was 6.5K. I am now leaving them in less than a year and they want the entire amount (10K) back. Am I liable to pay the entire amount or only the amount I actually received after paying Tax? (6.5K)
The exact terms in the contract were as follows:
The Company will provide to you a one-time payment of $10,000 to help defray the costs associated with your relocation to the Massachusetts area. This relocation payment is subject to applicable taxes, withholdings and deductions and is contingent upon your relocation to Massachusetts within four weeks of your hire date. The payment will be paid to you upon evidence of the relocation to Massachusetts. If your employment with the Company terminates within one year of your hire date for any reason, this one-time payment must be repaid to the Company in full prior to your date of separation.
I received a relocation package of 10K when joining my current company. After tax deduction the actual amount was 6.5K. I am now leaving them in less than a year and they want the entire amount (10K) back. Am I liable to pay the entire amount or only the amount I actually received after paying Tax? (6.5K)
The exact terms in the contract were as follows:
The Company will provide to you a one-time payment of $10,000 to help defray the costs associated with your relocation to the Massachusetts area. This relocation payment is subject to applicable taxes, withholdings and deductions and is contingent upon your relocation to Massachusetts within four weeks of your hire date. The payment will be paid to you upon evidence of the relocation to Massachusetts. If your employment with the Company terminates within one year of your hire date for any reason, this one-time payment must be repaid to the Company in full prior to your date of separation.