Are you confident that the relocation benefits for your global transferees are being reported correctly?
Oftentimes, these relocation benefits go unreported, which can lead to some unpleasant payroll audits and/or penalties.
In an ever-changing tax landscape, we can help. Achieve accurate reporting and seamless compliance with local regulations, ensuring a smoother and more effective relocation process.
If you are like most companies with mobile employees, you might assume one of your mobility vendors is assisting in the reporting of relocation benefits for moves outside the US. However, you may be surprised by the reality of what frequently happens instead.
Typically, RMC’s only assist with reporting the relocation benefits for all individuals moving to the US or within the US. Moves outside the US are not typically reviewed by RMC’s for taxability in other countries.
If you have one, mobility tax providers are typically very involved with the reporting of relocation benefits (and any other assignment benefits) for “assignees.” However, the services authorized by most companies for “transferees” often only includes tax counseling and tax preparation, and NOT a review of the taxability of relocation benefits.
Local payroll departments (in the country where your transferees are moving) can often be unfamiliar with the specific tax rules for relocation benefits, especially if it is an international relocation. Therefore, even if the report of relocation benefits is currently being routed to your local payroll department, there is no guarantee that an expert taxability analysis is being conducted or that the local payroll is being handled appropriately.
Eliminate the guess work in wondering if your relocation benefits for your transferees are being properly analyzed and reported.
Here are just a few of the services we provide to simplify your global relocation reporting:
Efficiently navigate the complexities of global relocation reporting with our expert guidance tailored to your exact needs.
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