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Payroll Today

TCJA snack time: Gimme more, more, more

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Alice Gilman

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in Payroll Today

Betcha can’t have just one. We’re recalling that old advertising tag line for potato chips because it seems the same can be said of articles parsing the Tax Cuts and Jobs Act. Although the TCJA has been on the books for more than a year now, knotty issues are still arising. Here’s the latest.

No W-2c for moving expenses

The TCJA suspended employers’ reimbursement of employees’ qualified moving expenses through 2025. That created a vacuum for employers that agreed to reimburse employees in 2018 for moves made in 2017. To fill that vacuum, the IRS said only those reimbursements were tax-free to employees in 2018. But the IRS never said whether you had to report the reimbursement on employees’ W-2s, in Box 12, with Code P.

After W-2s were provided to employees, the IRS said Code P wasn’t required. But it neglected to clarify whether employers that used Code P on their W-2s had to file Form W-2c with the Social ...(register to read more)

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