International Tax Primer

Features and Benefits Added for 2023:

• New: Child Tax Credits Phase-Outs – Will significantly affect over 50% of most transferees and assignees
• New: Payroll withholding issues – taxable mobility expenses are typically withheld at the 22% federal supplemental rate and applicable state rate versus the employee’s actual marginal tax bracket which typically causes a very significant year-end tax withholding shortfall for most all transferees/assignees.
• New: Explains the implications of the non-conforming states so your employees can maximize their 2023 moving expense tax deductions
• New: The new 2023 W-2 compliance filing requirements
• New: How the new State and Local Tax (SALT) limitations affects your transferees and assignees ability to deduct their state and local gross-ups
• New: Extended Business Travelers and Short Term Assignments, helps manage and provides detailed guidance, helps both the employee and company stay compliant.
• New: All new Canadian tax updates have been made regarding non-Canadian citizens not being able to purchase homes in Canada effective 1/1/23

Additional Features and Benefits Include:

• A Component of Talent Management and enhancing the employee experience.
• Provides Tools needed to stay compliant
• W-2c “Insurance”
• Maximize Moving Expense deductions
• Helps in decision making process to buy or rent in the new location
• Helps decide to live in one state and /or locality vs. another
• A brand new example of the 2023 Relocation Tax Report and 1040 filing requirements
• In depth explanation of new child tax credits and how it might impact a transferee’s refund
• How to provide “with and without” move tax gross-up analysis for transferees using the new, lower, supplemental tax rate
• And more…