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The Tax Cuts and Jobs Act (TCJA) suspended the moving expense deduction/exclusion for the years 2018 through 2025 except for military personnel. As a result, U.S. federal government employees who are relocated are not allowed a deduction for moving expenses and expenses paid for by the government are included in income. Although the government eventually achieved the authority to gross up for taxes on these newly includable amounts, a subset of employees (those who are overseas and returning to the U.S. to retire) are not entitled to any gross up.
A new wealth tax in Venezuela has implications for companies and employees operating in Venezuela.
India’s reduction of corporate tax rates are intended to attract business.
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