To control costs while keeping their organizations competitive, most companies offer some type of lump sum allowance to deliver at least a portion of their relocation program benefits.
The passage of the Tax Cuts and Jobs Act removed the tax benefit to collecting receipts for several components of the relocation process. Given these recent changes, the use of lump sums has never been more appealing.
With the various approaches and data quality involved in establishing and maintaining lump sum allowances, it helps to know your options before choosing the program that will best support your company’s needs. Find out which lump sum program is best for your company in this whitepaper.