My old employer had paid approximately $10,000 tuition assistance for me. I received a job offer from my new employer and accepted before working out my work commitment. The new employer agreed to pay off the amount I owed the old employer for not working out the agreement. Now, the new employer is telling me that is a taxable benefit to me since they are paying off a loan. I argue that it is still tuition reimbursement and at a maximum only the amount paid above $5,250 in one year should be taxable. They say the original reason I received the money is irrelevant and they must treat it the same as paying off a loan. I honestly don't think any of it should be taxable since it is tuition related and the courses were over a two year period. Do any of you have any advice in this area?
2007-09-17
06:49:26
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1 answers
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asked by
Shawn
1
in
Business & Finance
➔ Taxes
➔ United States