The provision of long-term incentives, such as stock options and other equity compensation, to employees who work in multiple locations has always been challenging. Because not all jurisdictions treat equity income in the same manner for tax purposes, companies can face many uncertainties when trying to understand their reporting and withholding obligations. Mobile employees can face complex tax filings and even double taxation.
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It happens all the time. Your company has a mobile workforce spread out over multiple jurisdictions, 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, technology, and experts, and who may already be doing your corporate tax work. You know they can handle the number of mobile employees you have, and you’re pretty sure they won’t mess things up because they’ve been doing this for decades. But somewhere along the line you realize this provider may be a bit too big for you and you aren’t getting the high-level of service you expected.
Now that the chaos of another US tax busy season has passed, it’s an opportune time to reflect on your mobility program with a post-tax season check-up. Taking time now to review this past busy season will allow you and your mobility tax provider to discover ways to enhance the employee experience, highlight areas of risk and outline necessary actions, and understand areas of frustration so you can strategize possible improvements. To guide you through this review, we’ve created a checklist that includes key considerations and tips for a successful and rewarding post-tax season assessment.
Let’s face it, many people find taxes to be intimidating, time consuming, and confusing—why else would so many people procrastinate when it comes to filing their taxes? Then, add in the intricacies when taxpayers are dealing with multiple taxing jurisdictions—due to an international transfer, international assignment, business travel, or even remote work—and the complexities skyrocket. When employees are working outside of their Home location, delivering timely communications can go a long way in managing risks and providing an exceptional employee experience—helping you retain top talent and providing essential duty of care to your workforce. Below, we outline key items you should be discussing with your remote workers, business travelers, and/or international transferees or assignees.
Our annual Beards and Braids for Busy Season (BBFBS) begins now! In the campaign’s ninth year, GTN is once again partnering with Move For Hunger, a national non-profit organization that has created a sustainable way to reduce food waste and fight hunger. Our 2022 BBFBS campaign strives to make an impact on the growing hunger crisis as millions of Americans face food insecurity every day. This will be GTN’s second year partnering with Move For Hunger and our goal is to surpass last year. With your help in 2021, the BBFBS campaign was among Move For Hunger's top 10 fundraisers providing 16,277 meals to those in need! We are very excited about this year’s campaign and the continued role we can play in helping the Move For Hunger cause.
As remote work requests continue to roll in and the future of work is one that embraces a mobile workforce, C-suite executives are pushing to offer remote work as a valuable incentive to retain and attract talent. While a drive to offer this employee incentive has already realized advantages for companies, it has also come with many challenges and compliance requirements that still need to be addressed.