IRS Publication 521 - Moving Expenses

AAA

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.

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.

RELATED TERMS
  1. Form 3903

    A tax form distributed by the Internal Revenue Service (IRS) ...
  2. Moving Expenses

    Potentially tax-deductible expenses that are incurred when an ...
  3. Tax Return

    1. The tax form or forms used to file income taxes with the Internal ...
  4. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
  5. Deduction

    Any item or expenditure subtracted from gross income to reduce ...
  6. Economic Justice

    Economic justice is a component of social justice. It's a set ...
Related Articles
  1. 10 Tax Benefits For The Self-Employed ...
    Entrepreneurship

    10 Tax Benefits For The Self-Employed ...

  2. 5 Tax Credits You Shouldn't Miss
    Taxes

    5 Tax Credits You Shouldn't Miss

  3. 10 Most Overlooked Tax Deductions
    Taxes

    10 Most Overlooked Tax Deductions

  4. Paring Down Moving Costs
    Budgeting

    Paring Down Moving Costs

comments powered by Disqus
Hot Definitions
  1. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  2. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  3. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  4. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  5. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  6. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
Trading Center