Have a Tax Question? Ask a Tax Expert
Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.
Laura, I hate to be the bearer of bad news, but there is little you can do to seek any remedy from your previous employer for their withholding of this award.
Unfortunately, they have a duty to withhold amounts from your pay for tax, and there's no penalty for withholding too much
Now, at the end of the year if you owe less tax you will get a refund
So, the amount is not lost forever
You will need to file your annual tax return in order to get these funds back.
Is it possible for them to collect the check re-issue another check with the correct withholdings?
It all depends on their system. You see, within a week or two of cutting you a check, your withholdings are sent to the IRS
so, the funds they withheld could already be at the IRS and they couldn't do anything to get those back
The check was cut late Mon. & issued today. What system would be necessary to retrieve the funds & re-issue?
I highly doubt that they would do it, but you would have to speak to your payroll department
Is there something that could make them "want to do it?"
No, there is no penalty if they did not do it. It's up to them - they cannot be penalized for "withholding too much"
But rest assured at the end of the year, when you file your return, you will get a refund
I understand - if there's no advantage for them, why do it? Maybe because it's the RIGHT thing??
You're welcome. IS there anything else I can assist you with today?
No, I don't think so.
and I mean to say that you will get a refund if too much is withheld
Once satisfied with our communication, please rate as 'excellent' so that I may receive credit for assisting you today
I understand - thanks.