Lexicon News

TCJA Update: Internal Revenue Service Announcement

Published on 9.26.18

There has been confusion around the Tax Cuts and Jobs Act (TCJA) since it went into effect at the beginning of 2018. On September 21, the IRS posted Notice 2018-75 to clarify the allowed treatment of moving expenses. The notification indicated that employer payments or reimbursements in 2018, for an employee’s moving expenses incurred prior to 2018, can be excluded from the employee’s wages for income and employment tax purposes, if the qualified moving expense rules were met.

Topics: TCJA, global mobility tax, tax deductible expenses, tax cut and job act