Prior to its 2018 Global Workforce Relocation Conference held in Seattle on October 2018, the Worldwide Employee Relocation Council conducted an on-line survey in which it asked members how their companies were reacting to the elimination of the moving expense deduction/exclusion (MED) by the Tax Cuts and Jobs Act (TCJA). The TCJA suspended both the deduction and the exclusion for the years 2018 through 2025. As a result, expenses for household goods movement, and final move travel, are not deductible for 2018, and company reimbursements/payments of those expenses are taxable to the transferee.
The respondents were asked how, if at all, the loss of the MED was impacting move volume. Almost 78% of those who responded to that question reported that move volume remained about the same, with an additional 4% reporting increases. About 15% reported that volume decreased somewhat, with 3% reporting significant decreases.
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