It happens all the time. Your company has a mobile workforce in multiple locations, and you realize you need help with the mobility tax complexities that come with having employees working outside their usual work location. So, you reach out to a well-known large accounting firm offering an impressive list of services and experts who may already be doing your corporate tax work. You know they can handle the number of mobile employees you have, and you are pretty sure they won’t mess things up because they have been doing this for decades. But somewhere along the line you realize your provider may be a bit too big for you and you aren’t getting the white-glove service you expected.
As we all struggle to keep up with the impact of COVID-19, the changing rules, and the lack of guidelines, we wanted to share a few tips that have been beneficial for our clients with mobility programs. Here is a mobility tax checklist of considerations to think about as you work to determine next steps for your mobility program and your mobile employees.
It may seem counterintuitive to a US citizen or permanent resident (i.e., a green card holder) who has just taken a new international job, that most will still be required to file US federal income tax returns after relocating. In addition to filing income tax returns, mobile employees may also have other filing obligations including estate or gift tax returns, estimated tax payments, and foreign bank account reports.
GTN and ME Relocation Group are teaming up to provide a thought provoking session on the new tax reform, and how it directly affects your mobility program. The event will be held on March 13, 2018 at the Houston Marriott Westchase in Houston, TX.