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Started By
Message
Proper way (both parties) to handle an overpayment?
Posted on 6/2/16 at 5:49 am
Posted on 6/2/16 at 5:49 am
I got an email at work, to call HR about an overpayment.
"frick you. Your mistake, my money." Does not seem the most professional. But on their end there should be a protocol too? Worst case scenario we are only talking about $1000 and it was a balloon payment of a final sign on bonus installment. Bottom line. This is a standard job with a W2 tax set up. So the $1000 was taxed. Surely I do not owe them $1000 post tax dollars for their $1000 pre tax error?
My assumption is that I set up a plan where they take out say, $200 a check PRE tax as a repayment. Bitch of it is this is a grand that I am owed. Their dumbasses just paid the remaining 2 installment of the bonus in one lump. I still have that $1000 coming to me. It's just 6 mos to a year from now.
WWTOTD.?
Ib4 I'm poor
Ib4 PIIH(r girls)B
"frick you. Your mistake, my money." Does not seem the most professional. But on their end there should be a protocol too? Worst case scenario we are only talking about $1000 and it was a balloon payment of a final sign on bonus installment. Bottom line. This is a standard job with a W2 tax set up. So the $1000 was taxed. Surely I do not owe them $1000 post tax dollars for their $1000 pre tax error?
My assumption is that I set up a plan where they take out say, $200 a check PRE tax as a repayment. Bitch of it is this is a grand that I am owed. Their dumbasses just paid the remaining 2 installment of the bonus in one lump. I still have that $1000 coming to me. It's just 6 mos to a year from now.
WWTOTD.?
Ib4 I'm poor
Ib4 PIIH(r girls)B
This post was edited on 6/2/16 at 5:59 am
6
Posted on 6/2/16 at 6:02 am to LSU alum wannabe
It's not your money.... yet.
Call them up and discuss what's necessary with regards to a certain portion of it having been taxed, and pay them back.
Or maybe they'll be reasonable and just leave it alone.
Call them up and discuss what's necessary with regards to a certain portion of it having been taxed, and pay them back.
Or maybe they'll be reasonable and just leave it alone.
This post was edited on 6/2/16 at 6:03 am
Posted on 6/2/16 at 6:16 am to LSU alum wannabe
You millennials are needy as shite
Posted on 6/2/16 at 6:22 am to LSU alum wannabe
My wife had something similar happen last year and it was large amount of money. She was basically getting double her salary for five or six payrolls. We knew they had a right to take it back at any moment, so she contacted them after she noticed it on the second payroll check.
At first, they demanded that we write a check for all of the overpayment, including all of the income tax, health care, and retirement withholdings, which would have been a pretty serious out of pocket cost for us. We fought back and forth for months after it happened, including getting our attorney involved. They eventually figured out the correct amount for us to pay back, so we wrote a check for that amount and all was good. They did give us an option to have a reduced paycheck for six months but decided to get the money back to them immediately.
In the meantime, I moved the extra cash to savings and got a little interest on it. Probably could have just left it there and took the lower check but figured we would want them to quickly resolve an issue if it were the other way around.
At first, they demanded that we write a check for all of the overpayment, including all of the income tax, health care, and retirement withholdings, which would have been a pretty serious out of pocket cost for us. We fought back and forth for months after it happened, including getting our attorney involved. They eventually figured out the correct amount for us to pay back, so we wrote a check for that amount and all was good. They did give us an option to have a reduced paycheck for six months but decided to get the money back to them immediately.
In the meantime, I moved the extra cash to savings and got a little interest on it. Probably could have just left it there and took the lower check but figured we would want them to quickly resolve an issue if it were the other way around.
Posted on 6/2/16 at 6:29 am to LSU alum wannabe
Whatever is the amount of the overpayment is due back to them...their fault doesnt matter.
Posted on 6/2/16 at 6:52 am to liuyaming
I hope she can find a better job as they sound like idiots.
Posted on 6/2/16 at 6:55 am to djangochained
quote:
You millennials are needy as shite
You old people need to retire and quit messing things up.
Posted on 6/2/16 at 7:18 am to LSU alum wannabe
Where do you work? If my HR fricked up and did this to an employee of mine, I'd laugh, tell him to buy himself an extra lap dance or two, and shake his hand.
You're due the money anyway, going to cost the company more in time, expenses, and headache to take back the lump sum and then proceed to redistribute it in smaller instalments than to just let you keep it and wash out what's still owe dto you.
You're due the money anyway, going to cost the company more in time, expenses, and headache to take back the lump sum and then proceed to redistribute it in smaller instalments than to just let you keep it and wash out what's still owe dto you.
Posted on 6/2/16 at 7:22 am to liuyaming
You should've taken the reduced paycheck over the next 6 months, and kept the large cash sum. You then should've taken the extra large cash sum and either 1)invested in some very high risk, high reward stock market ventures or gone to the casino and tried to double down. You would've most likely coem out ahead at the end of it all.
Posted on 6/2/16 at 7:35 am to DirtyMikeandtheBoys
I would physically write out everything, explaining, in detail, about the error and your perceptions of it. Submit this to payroll through certified mail, email, and hand delivered. Tell them how this is money that is owed to you, and that if they want it back now, that is fine, but that it would be easier for both parties to use this money to offset the future bonus. If the bonus is time contingent, like you must stay working for the company for X amt of time, then they will likely want the money back for now. They will ask for it back pre-tax, and an adjustment will be made to your gross pay and you will receive a refund after filing taxes.
Work with them. I literally have this happen on an every ~5 week basis with our payroll audits. Blue collar workers tend to think that just because they are overpaid they "deserve" that money, yet when they are underpaid we don't "deserve" to keep it? The statute of limitations is two years for overpayment of wages, 3 years if the company can prove fraud was involved. If any Fortune 100-500 company overpays you best believe they will be coming after their money. If they are entitled to it, why isn't a small business? In the long run it will cost a person much more to consult an attorney rather than just paying back a normal overpayment. Obviously the above poster is a different scenario, as the company was asking for an egregious amount beyond what was overpaid. No worker is entitled to income above their contractual pay, no matter what mistakes were made.
Work with them. I literally have this happen on an every ~5 week basis with our payroll audits. Blue collar workers tend to think that just because they are overpaid they "deserve" that money, yet when they are underpaid we don't "deserve" to keep it? The statute of limitations is two years for overpayment of wages, 3 years if the company can prove fraud was involved. If any Fortune 100-500 company overpays you best believe they will be coming after their money. If they are entitled to it, why isn't a small business? In the long run it will cost a person much more to consult an attorney rather than just paying back a normal overpayment. Obviously the above poster is a different scenario, as the company was asking for an egregious amount beyond what was overpaid. No worker is entitled to income above their contractual pay, no matter what mistakes were made.
This post was edited on 6/2/16 at 7:37 am
Posted on 6/2/16 at 7:53 am to LSU alum wannabe
quote:
This is a standard job with a W2 tax set up. So the $1000 was taxed. Surely I do not owe them $1000 post tax dollars for their $1000 pre tax error?
That's not how this works... That's not how any of this works...
Look, I'm sure that something can be worked out, but they took part of that $1k and made a tax payment for you, so what do you expect?
Btw, considering it's a sign on bonus, you're the new guy. So it's best not to be confrontational.
Posted on 6/2/16 at 8:29 am to N2cars
quote:
I hope she can find a better job as they sound like idiots.
Well, we are talking about HR people here... They tend to be on the slower end even at places known for higher inelligent employees (I banks, consulting firms, etch.)
HR is like the DMV of the company.
Posted on 6/2/16 at 9:36 am to TigerDeBaiter
quote:
Look, I'm sure that something can be worked out, but they took part of that $1k and made a tax payment for you, so what do you expect?
Btw, considering it's a sign on bonus, you're the new guy. So it's best not to be confrontational.
Their overpayment of taxes can't be handled? I am handing them money back pre tax? They did actually give me the money and paid the IRS for it?
It gets worse though. The over payment was $2k. They want it over four pay periods. I want to stretch it out. It's their frick up. And it was money in the parameter of a bonus that was owed so I never questioned it. It is not like mentioned above where I got a $7k paycheck and said "sweet! My little secret" and bought a jet ski. If we left things as is, they still owe me $500.
Just stupid.
And it's a nursing job BTW. I already have two. I could quit today and have another second job tomorrow. Nursing in Houston is like screwing in a whorehouse with a fist full of $100's.
But I do not want to quit. I actually enjoy it here. Just mention that to illustrate that I have some leverage.
This post was edited on 6/2/16 at 9:39 am
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