Though we are satisfied to know that proposed U.S. tax reform on the House and Senate side does not contain elimination of the current exclusion for foreign earned income and housing costs – so that expats and their employers would be unaffected – such is not the case with the moving expense deduction. Both the recently released House Republican plan and the Senate plan would repeal the moving expense deduction, and the exclusion for moving expenses paid or reimbursed by an employer, effective January 1, 2018.
How is this going to impact our industry and our guidance to organizations moving their employees?
Tune in for our comprehensive tax reform discussion.
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Government Affairs Adviser