Bonus Question

[brian21johansen]

Here's my situation:

A week or two before I ship to Parris Island I sign a $5,000 shipping bonus. I'm excited so I don't really read anything just initial and sign the paper. 3 Months later: My final week at Parris Island we are getting our final orders and while waiting I'm flipping through my SRB. I come across the contract for my bonus and read read through it. One of the very last lines that I initialed stated: I understand that I must ship to bootcamp between October 2006 and September 2007. Well, I shipped October of 2007 so I tell myself that I'm not eligible for the bonus and I just completely forget about it. About a week ago I have a direct deposit to my account for $3,555 (the bonus after taxes). What do I do? I understand that if i'm not eligible for it and the governement made a mistake that I should report it (which I will if that's the case, based on ethics alone & stories I've heard of the governement taking servicemembers' whole paychecks for months to make up for over payments). Anyways, is there any way I'm eligible for this money.....I realize that I didn't ship during the ordered time frame, but I did meet all the other criteria on the contract. I understand that I'll probably have to return the money but I'm not retuning it if theres a chance I'm entitiled to it.


Thanks for any help,
PFC Johansen

[SlingerDun]

You were taxed on this money don't forget that if they decide to extract it. Sounds to me like you have incentive to sit on the deposit. I would directly transfer it to a savings account if its not...

[brian21johansen]

thanks for your reply, the first thing I did was transfer it to my savings account.

[brian21johansen]

bump......

anybody else have any idea on this topic?

[SlingerDun]

Ask SGT. "TheWookie" he's a banker:cool:

[Hell Boy]

Go to the finace office and show them the problem. This would be the right thing to do. If it is your money then spend it wisely, if the money was a mistake then you know you did the right thing. The Corps is taking care of you, take care of the Corps.

[Crusader20]

Invest Invest Invest.

Put it in some Roth accounts and forget it. Go see a investment broker for the best options or look at the Dave Ramsey site for advice.

Invest Invest Invest.

[semperfi05]

Does anyone know what the current rate is for tax's on a lump sum bonus. I signed for 56,000 but am wondering how much I will see after tax's

[SlingerDun]

It's now part of your taxable income and depends on how much you gross anually, deductions, dependents, assets etc..you may get quite a bit of that taxed income back if you file and don't owe.

The bonus is not hit by a capital gains tax which is going up considerably under your new commander and chief to assist in "spreading the wealth". You'd be free and clear of bonus taxes had you re-enlisted in a combat zone.

--->Dave

[firedog974]

Here's my situation:

A week or two before I ship to Parris Island I sign a $5,000 shipping bonus. I'm excited so I don't really read anything just initial and sign the paper. 3 Months later: My final week at Parris Island we are getting our final orders and while waiting I'm flipping through my SRB. I come across the contract for my bonus and read read through it. One of the very last lines that I initialed stated: I understand that I must ship to bootcamp between October 2006 and September 2007. Well, I shipped October of 2007 so I tell myself that I'm not eligible for the bonus and I just completely forget about it. About a week ago I have a direct deposit to my account for $3,555 (the bonus after taxes). What do I do? I understand that if i'm not eligible for it and the governement made a mistake that I should report it (which I will if that's the case, based on ethics alone & stories I've heard of the governement taking servicemembers' whole paychecks for months to make up for over payments). Anyways, is there any way I'm eligible for this money.....I realize that I didn't ship during the ordered time frame, but I did meet all the other criteria on the contract. I understand that I'll probably have to return the money but I'm not retuning it if theres a chance I'm entitiled to it.


Thanks for any help,
PFC Johansen


I have experienced an issue like this and the best thing to do is contact DFAS. If you do not, and it turns out you were inelligable, they will come after you, garnish your wages, and hit you with penalties and interest. Your finance office may be able to help, but DFAS is where you should be going, as they are the people who will come after you. I would do it as soon as possible.

[Lisa 23]

Firedog974, in case you didn't notice, the post you quoted is over a year old. I'm sure the original poster got everything squared away by now with the bonus money.

[Apache]

Put it to work and wait ?
Like the concept-but-
A couple Marines hit the target.
Go see your finance section and let them figure it out
At least you will sleep

Semper Fi

[Lisa 23]

Put it to work and wait ?
Like the concept-but-
A couple Marines hit the target.
Go see your finance section and let them figure it out
At least you will sleep

Semper Fi
This thread is over a year old. If you're answering the original poster, I'm sure he's got it all squared away by now.

[firedog974]

Firedog974, in case you didn't notice, the post you quoted is over a year old. I'm sure the original poster got everything squared away by now with the bonus money.


I get the charlie foxtrot award for the day!!