Relocation News and Trends
NuCompass keeps you up to date with the latest relocation trends and mobility news.
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The New Tax Law and Its Impact on Mobility
NuCompass Chairman, Frank Patitucci, has written the following thought-leadership article on the new tax laws and the immediate and longer term impact on relocation and mobility services:
Possible Changes to H-1B Extension Processing
The Department of Homeland Security (DHS) may stop renewing H-1B extensions for applicants caught in the green card backlog. Past practices have generally resulted in any applicant whose green card application was negatively affected by backlogs or per-country limits having their H-1B status renewed when the applicant is otherwise eligible.
Talent Management Trends in China
Worldwide ERC recently published a survey of 116 companies on trends they anticipated regarding talent mobility in China. Below are some interesting survey results for assignment management structure and top destination cities.
Tax Reform Changes for Relocation
On November 16, 2017, the U.S. House of Representatives passed their tax reform proposal by a vote of 227 to 205. Later that day, the Senate passed their tax reform proposal. Both bills repeal the moving expense deduction, as well as the exclusion for moving expenses paid or reimbursed by an employer. If these changes remain in the reconciled legislation, they would become effective January 1, 2018.
Tax Reform Affects on Moving Expenses
There has been significant discussion and debate in Washington regarding new tax proposals. Below is an update provided by Worldwide ERC® on what is being considered in current legislation. While this is not final and will likely go through more iterations, we wanted to keep you updated on current events as they affect relocation. <!--break-->
Proposed Tax Reform Impact on Relocation
Worldwide ERC® recently issued a press release about the proposed tax reforms and the potential for a significant impact on the relocation and global mobility industry.
USCIS Toughens Scrutiny of Nonimmigrant Extension Filings
USCIS has rescinded a long-standing policy with regard to nonimmigrant visa extensions. This is a significant change because the USCIS will no longer rely on past approvals as a consideration in evaluating extension applications. Under the new policy, officers can re-evaluate an applicant’s eligibility each time an extension is requested.
Government Affairs and Relocation
Worldwide ERC® recently published a Government Affairs Update, which outlines the potential impact on relocation and global mobility programs. Information in this update includes:tax reform, Social Security, IRS changes, the new French withholding system, the travel suspension, the FinCEN advisory, and airline carbon emissions.
Relocation Technology on the Move
NuCompass' Chairman, Frank Patitucci, is quoted in the article, "Tech on the Move", in the September 2017 issue of HRO Today Magazine. The article, written by Christa Elliott, takes a look at how new technology advances, including virtual reality and artificial intelligence, will impact the global mobility industry.
Do You Know Where Your Global Assignees Are?
A few decades ago, there were public service announcements on television that aired each night with a simple message: “It’s 10PM - do you know where your children are?” The message was provided as a reminder that parents should be aware of the location of their children with the idea that late at night, they should be safe at home. There is an application in that message for employers – particularly as concepts such as “Duty of Care” for employees is becoming a topic to consider and political environments around the globe are rapidly changing.