2017 Tax Cuts and Jobs Act: (Almost) a Year Later and a Look Ahead
The 2017 US Tax Cuts and Jobs Act was signed on December 22, 2017, with an effective date of January 1, 2018. This timing left little, if any, opportunity for organizations to evaluate the impact of the reform on in-process and pipeline moves, and the associated approach for gross-up support for the employee. An overwhelming majority of organizations made the decision to provide gross-up assistance for previously non-taxable/excludable relocation support in an effort to minimize the tax impact to their mobile population. This resulted in increased costs for the organization’s mobility program.
With almost a year of the new regulations in effect, organizations have the opportunity to assess the tax impact to their program and to revisit the nature and level of support provided to their mobile population. Rather than a blanket gross-up approach, regardless of what is motivating or driving the relocation, organizations have the ability to segment their gross-up approach based on the value of the relocation to both the employee and the organization.
SIRVA’s webinar will explore the opportunities and implications of tax support decisions from a practical and a strategic point of view.
CE Credit (fees may apply):
Vice President, Global Consulting
SIRVA Worldwide Relocation & Moving
Director, Global Consulting