Reenlistment bonus

Broussard077

PEB Forum Veteran
Registered Member
#1
I got a bonus of 10000 and was taxed 25% which was 2500 how can you go about getting that 2500 back on income tax ..thanks in advance
 

RonG

PEB Forum Veteran
Registered Member
#2
I infer that your question is simply related to a tax return and not associated with a recoupment.

An example: I had an unexpected win of $10,000 on a scratch-card a few years ago. Twenty-five percent was deducted before I received the payment. That deduction was for federal tax, but that was not my effective tax rate. I showed the $10,000 in the appropriate section of the tax return and also included the taxes paid at 25% in the section provided for taxes withheld/paid.

The total income and exemptions/deductions allowed determine how much, if any, you will receive as a refund. It is not complicated.

If you were speaking of a recoupment, IRS 525, page 34, describes how to report a recoupment that occurred in a year different from the year in which the payment was made. https://www.irs.gov/pub/irs-pdf/p525.pdf
 
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