IRS Publication 521 - Moving Expenses
Definition of 'IRS Publication 521 - Moving Expenses'A document published by the Internal Revenue Service (IRS) outlining the available deductions that tax payers can claim for moving expenses related to starting a new job or relocating because of a transfer. IRS Publication 521 provides guidance as to what types of expenses are deductible and not deductible, how to take into account reimbursements made by employers, as well as rules applying to deductions for members of the military. |
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Investopedia explains 'IRS Publication 521 - Moving Expenses'Form 3903 (Moving Expenses) is used to claim any deductions related to moving expenses and is filed as an attachment to Form 1040 or Form 1040R. A new Form 3903 must be used for each qualifying move made.Deductions for moves to a workplace outside of the United States can only be made by citizens or resident aliens. |
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