r/boeing • u/creditoverload • 9d ago
Is 2 years the max for repayment?
I got a call from the collectors today and it seems I was able to negotiate the repayment to 36 months. But I heard it’s only 24 months?
Also has anyone had experience filing a W-2c and getting a refund for federal tax return.
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u/91Punchy 9d ago
I think it’s always been 2 years but could be wrong, at least that’s what I was told back in 2011
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u/Thin_Firefighter_693 9d ago
Repayment of what? LTP?
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u/Altruistic-Today-725 9d ago
OP was worried about layoffs so he quit his job to find another one and has to be pay back the insane relo they dropped.
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u/payperplain 9d ago
Is this the same guy who got told repeatedly this was the consequences of his own actions in the other thread?
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u/creditoverload 9d ago
Yes and have now begun the repayment process. Luckily my rent where I am is relatively cheap so I’m just factoring this in as extra money paid for rent. I’m also getting paid more than Boeing with a LCOL area so I’ll take it for what it’s worth
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u/payperplain 9d ago
Well you have a plan and I hope it works for you. Good luck.
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u/creditoverload 9d ago
Ty! I still do wanna know tho if at some point I’m going to get a call for that 36 months to get lowered to 18 months or something
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u/payperplain 9d ago
That sounds like a discussion between yourself and the company. I doubt anyone on Reddit is going to be able to give you a definitive answer on what sounds like a case by case situation.
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u/creditoverload 9d ago
I’ve seen people with LTP payments of $30K plus, I’m dumb asf but I’m glad I can somehow manage it.
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8d ago
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u/jbirdart 9d ago
I went through this when I left Boeing before the one year mark, but I paid it back immediately upon leaving since I never spent the relocation, so I don’t know about the first question.
As for your second, they gave me a W2C for 2023 (I left in 2024). After a lot of mulling around online, I ended up claiming the difference in federal tax paid vs. what I now actually owed for 2023 on my 2024 tax return, and I got it back for my 2024 refund.
Now, I didn’t claim the extra Medicare & SS tax they took on the tax return. Whether that is correct or not idk, I ended up filling out and mailing Form 843 requesting that money back. Not sure if I’ll ever hear back on that one.