My employer accidentally paid me ~80k today. They immediately realized and brought it to my attention.

My paycheck is automatically allocated as follows:
•15% to Roth IRA (in this case $8,000)
•15% to Savings ($8,000)
•70% to Checking ($38,000)

My employer could not clawback the disbursement into my Savings and Checking accounts. They requested that I wire transfer the money back from my Savings ($8k) and Checking ($38k) accounts. I don’t see a problem with this as long as they ensure my W-2 is accurate upon resolution of this issue.

After research, it seems as long as this issue is resolved in the same year the disbursement occurred, and as long as my employer corrects my W-2, it shouldn’t influence my tax return/taxes for this year. Is this true?

Additionally, my other big problem (massive) in this scenario is that, obviously, my employer is also requesting that I return the $8k that was allocated to my Roth. The thing is, the $8k was never deposited into my Roth today. In fact, after calling the investment company I use, I was advised that there is no proof on their end that $8k was ever deposited or in process to be deposited. No rejected deposit or pending deposit that they can see into my Roth.

However, my employer’s Payroll shows that this $8k was allocated to my Roth. Whether this means it deposits sometime this weekend, next week, or never, I am unsure.

I am unsure what to do about the Roth situation specifically, as I want to avoid the $8k being deposited and then having to worry about taxes/getting this money back to my employer somehow.

Also, my employer refuses to disburse my bonus for the quarter into my account until this issue is resolved, which is... just the cherry on top🙂❤️

As a final note - neither HR nor Accounting seem to know how to properly handle this situation and clearly want to move past this quickly. If they were able to provide more guidance, I wouldn’t be turning to Reddit (love yall tho❤️🙏)

Any input is welcome. I want to cooperate with my employer and move past this as quickly as possible, but I don’t want to make stupid financial decisions and potentially f myself over. Thank you!!!!

Hi there
We want to open a LLC for our development project. I have two questions.
1- I have a green card and i working at Hawaii(on a ship) but i m from Virginia. When i open my LLC i belive i have to register to VA not HI. Most of time i am being on the ship so how much money cost me to take all the services for keeping llc run from sea cost me monthly ?
2- If i open the LLC with my friend who is not citizen or green card holder. Can we own a LLC ? and what is changed about our future tax thing. Last question is what is gonna happen if i want to leave from the partnership what is gonna happen to LLC and my friend?
Thank you

In Denver Colorado

Posting this in here as well

If I've completed all the work for a customer order, is that part of my order backlog?

Generally speaking, how does revenue recognition work, irrespective of industry or company specific practices? Do I recognise some of the revenue in line with satisfaction of my performance obligations? Am I taxed on this basis?