You may or may not be able to recover the taxes. For each year in which repayment is made, you may claim the amount of the repayment as a miscellaneous itemized deduction if you itemize deductions on your tax return. This deduction will be subject to the 2percent floor of your adjusted gross income. In some circumstances, you may be able to claim a tax credit under section 1341 of the Internal Revenue Code if the amount of repayment exceeds $3,000. It is recommended that you consult with an accountant or a tax advisor.