Through the EY Financial Planner Line® (EYFPL), we have provided domestic travel tax and financial planning support to employees of a large technology consulting firm since 2004. Our planners provide employees with tax reconciliation calculations to determine any increase in taxes that they have incurred because of work-related travel.
They also provide employees with financial guidance and support when their job location is being permanently relocated to another state, assisting them on topics such as cash flow management, home buying and tax planning. The EYFPL is staffed by experienced tax professionals who either have obtained or are obtaining an advanced designation such as CPA, CFP, MST or Enrolled Agent.
In our support of this organization, we:
- Serve as a trusted resource for employees who have tax questions related to their domestic travel
- Provide employees with the peace of mind of knowing they do not have to pay out of pocket for any excess tax incurred working outside their regular work state
- Run estimated tax calculations that examine what the employee’s tax situation would have looked like had he or she not been on assignment and incurred travel-related expenses
- Review and provide guidance on relocation policies such as home buying assistance, relocation payments and moving cost reimbursements
- Field questions on a variety of topics, such as nonresident state filing requirements, tax credits for out-of-state taxes paid and general questions on the domestic travel program
During our time serving this organization, we have experienced strong usage. Variables that can affect usage include:
- Communication about the program
- The number of employees who are on domestic assignment or have been relocated
- The tax filing deadline (March/April)
Each year, we have approximately 7,000 employees who are eligible for domestic tax and relocation services. Feedback from employees has always been positive, particularly for our responsiveness and understanding of state tax and the company domestic travel and relocation program details.