Effective January 1, 2018, any moving expenses paid on behalf of, or reimbursed to, our faculty and staff are taxable under the Tax Cuts and Jobs Act. The university recommends offering new eligible faculty and staff a lump-sum relocation bonus as part of their offer letter. There is no longer a need to substantiate and document relocation expenses for tax purposes. The relocation bonus will be paid within 30 days of their start date and will have taxes withheld. The net amount of the relocation bonus will be less than the gross amount stated in the offer letter. The employee may utilize these funds how they see fit. The relocation bonus will be subject to a retention period. Should the employee leave the university prior to the retention date, they will be required to repay the entire relocation bonus.
Please utilize Human Resources Relocation Resources for assistance with new employee relocation.