IRS Announces Adjustments for 2022 in Revenue Procedure 2021-45

The IRS announced in Revenue Procedure 2021-45 its annual inflation adjustments to more than 60 tax provisions, including the tax rate schedules.

Here are the highlights for tax year 2022:

  • Marginal tax rates are unchanged, but brackets have been adjusted for inflation.
  • Standard deductions have increased by $800 to $25,900 if married filing jointly and by $400 to $12,950 if single. The personal exemption remains at 0.
  • Various exemptions and limits were also adjusted, including the exemption for the Alternative Minimum Tax.
  • There is no limitation on itemized deductions, as that limitation was eliminated by the Tax Cuts and Jobs Act.

For complete details, check out the IRS announcement.

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Global Workforce Symposium 2021

Signature Relocation’s Director of Client Services, Kim Martin, attended the Worldwide ERC Global Workforce Symposium in Chicago in October. Her favorite session was on Corporate Benchmarking, where they covered new trends and changes in the relocation industry.

To learn about these latest trends, please reach out to us today for your complimentary benchmarking.

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RMPA Education Summit 2021

Tom Tolen, CPA and Signature Relocation’s Director of Global Consulting, presented last week at the RMPA Education Summit. The session entitled, Relocation Taxes, focused on the costs of relocating, the potential tax implications of relocating, and an overview of tax law changes.

If you would like to learn more about this topic, please contact us at 877.373.0691.

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MISHRM Conference 2021

Great time at the Michigan SHRM conference in Grand Rapids last week with our service partner, Premier Relocations-Mayflower. Hope to see you in 2022!

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Denver Corporate Relocation, Mobility & HR Lunch & Learn

Signature Relocation co-hosted with our partners, Jason Exley with Kentwood Real Estate and Richard Beatty with Johnson United for our 2nd annual Lunch & Learn. Lynn Shotwell, President and Chief Executive Officer of Worldwide ERC, was our guest and keynote speaker for the event that had over 20 corporate attendees.

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2021 HR Florida State Conference & Expo

The Signature Relocation team joined the Corrigan United team at their first in-person conference since January 2020 at the annual HR Florida State Conference & Expo.

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Back in the Office!

The Signature Relocation team has returned to in-office working.

Contact us today for your complimentary benchmarking and policy review.

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Is your relocation program ready for a post-covid-19 world?

Is your relocation program ready for a post-covid-19 world? How about your current relocation provider?

The relocation industry and the world were surprised by the COVID-19 pandemic, and the lasting effects are still being determined. As we prepare to return to some form of “normal”, one thing is clear: we must brace ourselves for a completely changed reality.

At Signature Relocation, we offer a comprehensive array of domestic and global mobility services in the United States, Canada, Central & South America, Europe, Middle East, Africa, and Asian Pacific regions with best-in-class global service partners offering “boots on the ground” solutions throughout the world.

We are here to help re-design or enhance your program by providing a thorough complementary review of your current policies. We offer benchmarking along with a review of current trends and best practices to enable you to create policies and procedures that bring flexible solutions tailored to meet your global needs. At Signature Relocation, we create extraordinary results for you and your employees.

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IRS Announces Deduction for Business Meal Expenses

Temporary 100-percent deduction for business meal expenses.

In Notice 2021-25, the IRS and Treasury Department recently offered details and guidance on a provision in the COVID-19 relief package passed by Congress last December, which temporarily allows a 100 percent deduction for food or beverages from restaurants through the end of 2022.

The goal of the provision, included as part of the Taxpayer Certainty and Disaster Relief Act of 2020, is to help restaurants that have been hit hard by the pandemic while also giving businesses an expanded tax break for business meal expenses. The Notice is effective for amounts paid or incurred after December 31, 2020 and before January 1, 2023.

Visit the IRS Notice 2021-25 here for additional information.

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Signature Relocation Partners with Chemical Industry Global Corporate Client

Signature Relocation is pleased to announce our new partnership with a leader in the global distribution of specialty chemicals and ingredients, with headquarters in Netherlands and US headquarters in Ohio.

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