4 ms·
> If a company does provide you $20k in relocation coverage (even if you never see the money), you're now on the hook for an extra $20k in 'income' which you ha
by pc86 4y ago
> If a company does provide you $20k in relocation coverage (even if you never see the money), you're now on the hook for an extra $20k in 'income' which you have to pay taxes on.
This is just not true.
- Kirby64 4y agoTo be clear, I mean if your employer incurs $20k in costs for relocation for you. Not if you get a '$20k' relocation allocation and you only spend, say, $5k. The tax rules changed in 2018, any relocation-related expenses are considered taxable as income with no exceptions (unless you're in the military).