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Fall 2015

Get Ready for Year End! by Kate Lenehan

This is the time of year when companies are turning their attention to year-end tax reporting for employees who incurred relocation or assignment related expenses during the calendar year. Reminders are sent to employees to ensure all expense reports are submitted by a specified cutoff date, Relocation Management Companies (RMC) are processing employee payments and supplier invoices to meet the same cutoff date, and companies are working with their RMC to calculate and report expenses for tax reporting purposes.

A year-end tax reporting process is generally developed when first implementing a U.S. domestic mobility program and is reviewed regularly to ensure the process is structured to fit the company’s mobility and tax reporting needs as well as to capture any changes in tax laws. There are a number of steps that companies should take to ensure a smooth year-end tax reporting process. Some of these steps should already be underway while others are reminders to keep companies on track for year-end. Please click here for a Domestic year-end Mobility Tax Reporting Checklist, and here for an International checklist.

Southeastern Regional Relocation Council (SRRC) 

PMB 335

501 N. Orlando Ave., Ste#313

Winter Park, FL 32789

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