I started a new job in January. Part of the package was a sign on bonus, that was to be repaid if I left before one year. It now looks like I may do that. My question regards the amount to be repaid. A big chunk of the bonus was taken out as taxes. Do I have to repay the entire amount, or only the portion I received? You will have to repay the gross amount received which will include the taxes withheld. If you received and repay the money in the same year, you will negate the tax liability 100%. But if you repay in different calendar years, different rules apply depending on whether you repay more or less than $3000. See IRS Pub 525 for more information.
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