Usually it is 20%, but over the course of the year, it is added to your weekly checks. When it is time to figure your taxes, it will correct itself.Does anyone know the tax rate on the green checks?
Not sure of the rate but I remember it was higher than my usual withholding, that was many years ago and haven't needed one since!
Because inquiring minds want to know........
How many of us think the company calls things like "green checks", "vacation sold back to the company" and "grievance settlements" a bonus so they (the company) can "write it off", all the while benefiting their bottom line?
I remember the government took issue with the company regarding an "off shore" banking/stock operation that has since been ordered to pay immense back taxes.
A reasonable person might assume the company can call anything it wants a "bonus" knowing full well the government isn't going to check into every "green check", "vacation sold back check" and "grievance settlement" that is issued and the respective employee is too stupid to figure it out.
.....just a thought.........I could be wrong.
Because inquiring minds want to know........
How many of us think the company calls things like "green checks", "vacation sold back to the company" and "grievance settlements" a bonus so they (the company) can "write it off", all the while benefiting their bottom line?
I remember the government took issue with the company regarding an "off shore" banking/stock operation that has since been ordered to pay immense back taxes.
A reasonable person might assume the company can call anything it wants a "bonus" knowing full well the government isn't going to check into every "green check", "vacation sold back check" and "grievance settlement" that is issued and the respective employee is too stupid to figure it out.
.....just a thought.........I could be wrong.
The last I heard was the company got caught with its hand in the cookie jar.......I could be wrong on that issue but if I am then why was the OPL stock liquidated?Trick, that tax issue has been settled. Guess who won on appeal? Where do you get your information?
The last I heard was the company got caught with its hand in the cookie jar.......I could be wrong on that issue but if I am then why was the OPL stock liquidated?
That issue aside, answer the core question of my post! Is the company claiming every "green check", "vacation sold back check" and "grievance settlement check" to be a bonus so they (the company) can write it off?
Does anyone know the tax rate on the green checks?
There was language added in the last contract pertaining to green ck's. As Sat. Drvr pointed out, the green ck is taxed the same as a regular ck. I got one Friday because they shorted me 26 hours (2 days) on my ck that I discovered Thursday morning when looking on UPSers.com. My hats off to our office personnel who acted quickly to correct the problem and get me a ck NDA for the shortage.
Brother,Wow you lucked out indeed. When I here of shortages being reported to management and the horror stories of waiting for weeks for the money. Seems like management is only worried about getting the job done, they could care less if your check is short. There is a grievance pay for each pay period you do not get the adjustment.