June 2022

What qualifies for relocation reimbursement?

What qualifies for relocation reimbursement? To qualify, reimbursements or payments must be for work-related moving expenses that would have been deductible by the employee if the employee had directly paid them before Jan. 1, 2018. What is a standard relocation allowance? A typical relocation package usually covers the costs of moving and storing furnishings, household

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How does relocation income tax allowance work?

How does relocation income tax allowance work? The RITA reimburses an eligible transferred employee substantially all of the additional Federal, State, and local income taxes incurred as a result of receiving taxable travel income. Travel W-2 wages/income and withholdings are reported to the IRS. Is a moving allowance taxable income? The short answer is “yes”.

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