The full amount of the relocation incentive payment must be repaid to the University if within one year of the date of appointment the employee voluntarily terminates employment or engages in behavior that makes termination of employment necessary. Lump Sum Relocation Incentive Payment Procedure (UW Human Resources).Payment of Moving Expenses Incurred by New or Transferred Employees (APS 34.1).Frequently Asked Questions about Personal Moves (Procurement Services FAQs).User Guides which include four guides on One Time Moving Expense Payments (UW Integrated Service Center Guidance).If you are unable to do a Lump Sum Moving Allowance, please see the Household & Laboratory Moves section below. The University will not provide any personal tax advice regarding this payment. Individuals should consult their tax adviser to determine whether any deductions may be available to them. The employee should not expect additional payments or reimbursements.Īppropriate taxes will be withheld from the payment amount, and the payment and withholding will be reported on the employee's W-2. The lump sum is intended to be used for all moving and travel expenses associated with the move.
The individuals will receive the lump sum payment with their first paycheck, once they are an active employee. The individual arranges and pays for the entire move themselves. For more information about the procedure, review the guidance on the Integrated Service Center website (direct link for academic personnel guidance).įor guidance on One Time payments for other types of employees see the Integrated Service Center User Guide Library and filter by "Moving Expense" in the Topic field. Payroll Coordinator: Use Workday to establish the allowance.
UW Hiring Official: Review the One Time Payment guidance on the Integrated Service Center website (direct link for academic personnel guidance) and provide the departmental payroll coordinator with an email authorizing the lump sum moving allowance. Departments who would rather reimburse travel expenses related to relocation rather than offer a Lump Sum Moving Allowance should see the Travel Office webpage. This is also different from the reimbursement process. The Lump Sum Moving Allowance is NOT the same as the Relocation Incentive Payment. Since this is an "allowance", taxes will be withheld when the payment is made. This allowance is intended to be used for all moving and travel expenses associated with the new employee's relocation, and they should not expect additional payments or reimbursements related to their move. While the amount is at the discretion of the department, the suggested upper limit for the allowance is $5,000. This is a one-time payment that will be included with an employee’s first paycheck. The Lump Sum Moving Allowance is an option to facilitate paying an employee for expenses associated with a move to the University. Using this process will ensure that new employees do not receive reduced paychecks while the required tax withholding and payroll tax payments are deducted. Furthermore, these payments are taxable without regard to whether receipts and/or appropriate documentation is provided.ĭepartments paying moving expenses are encouraged to use the Lump Sum Moving Allowance process in Workday.
#MOVING EXPENSES UPDATE#
2018 Federal Tax Reform Update - Moving ExpensesĮffective January 1, 2018, all personal moving expenses related to either reimbursements or payments on behalf of employees are taxable. The Lump Sum Moving Allowance is a UW preferred option to facilitate paying an employee for expenses associated with a move to the University. The University of Washington is permitted by the state of Washington to pay moving expenses for eligible new or transferring employees.
0 kommentar(er)
