Trying to keep up with the communications, news feeds, briefings, and information related to the current global COVID-19 pandemic makes this already stressful situation even more challenging. But being “in-the-know” is necessary to ensuring your mobility program continues to run smooth and your mobile employees understand the potential impact to them while on their mobile assignments. Our team here at GTN has been monitoring global tax activity and information related to COVID-19 and we recently created a COVID-19 tax resource center to share information that may impact you, your mobility program, and your mobile employees.
This resource center was created to keep you informed on new developments in this fluid tax environment. It includes tax alerts and action items specific to your mobility program and mobile workforce, blogs and articles that contain helpful tips and advice from our team and affiliates in the industry, and on-demand webinars and virtual events specific to the pandemic.
Here are a few pieces already available in the COVID-19 tax resource center:
In our April newsletter, we share information about the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act which is designed to provide significant tax relief and incentives for individuals and businesses impacted by the COVID-19 disease. It is critical that companies understand the law and possible impact on their mobility program and employees. To assist in your assessment of this impact, we provide answers to commonly asked questions regarding the rebate and possible impacts on mobile employees. Read more here.
In this on-demand webinar, industry experts offer their perspective on how the COVID-19 pandemic could impact the mobility industry and share their recommendations for how mobility managers can adapt to this new reality. Featured speakers include William Hauptman, MD, Medical Director Assistance at International SOS who provided the latest update on the COVID-19 outbreak and what organizations are doing to protect their mobile workforce, and Christopher Chalk, Global Mobility at The Coca-Cola Company who reviewed the impact COVID-19 has had on their mobility program and what they are doing about it. Download the recording here.
In this tax alert, we provide background around the extended US federal and state filing and payment deadlines. To provide additional relief, the IRS issued Notice 2020-18 on March 20. Among other clarifications, the notice extended the April 15, 2020 tax filing due date to July 15, 2020 and eliminated the $1 million extension payment limitation noted above. These changes eliminated potential complexity, resulting in welcome relief for both taxpayers and tax preparers. Read more from this alert here.
In this time of restricted mobility, we are seeing the rise of the work-from-home (WFH) economy, and right now, our “new normal” is the remote worker. In this blog post, we discuss the new challenges this brings to employers around the world. When work was tied to a physical office or project site, managing tax and social security risks were known issues that had to be addressed. Now as that tie is being broken, these issues can become more uncertain and exponentially larger. Read some of the factors that should be taken into consideration for your remote workforce.
As companies are working to determine next steps for mobile employees who are on extended business trips or longer-term assignments, their employees are being impacted by the stress of an unknown situation created by a travel ban and may also be affected by tax implications associated with a rapid change in plans that requires temporary residence in a new country. In this blog article, we outline a few steps you can take to address the global mobility tax and social security risks when travel bans occur.
Additional resources will continue to be added to the COVID-19 tax resource center. As always, our team remains dedicated to providing you with regular updates and informative articles on trends in the mobility tax landscape and tips to ensure your company is compliant. Subscribe to our blog, to stay updated on all mobility tax information.
If you have questions about your mobile workforce and the potential impacts of COVID-19, we are here to help. Schedule a call with our team to discuss your specific situation.