by angryDoDemployee » Thu Feb 14, 2019 5:31 pm
So you're located far from your sponsoring facility and plan to be moving to your new location once you enter Phase 2? Please consider that due to the new tax laws, you will be expected to pay the approx. 30% in taxes for your entire moving expense if you do a PCS move (let the government arrange the move for you). For some shorter distances, this may not be a problem. However, let's say you're moving across the country and your total moving expense through PCS is around $10,000 (pretty reasonable amount since the government will always seem to choose the most expensive method for travel), you can be expected to owe the IRS approx. $3,000 in taxes for that move. Consider the trade-off. If you can afford to move for cheaper on your own, do it. Otherwise be prepared to lay out thousands of dollars in lump sum.
So you're located far from your sponsoring facility and plan to be moving to your new location once you enter Phase 2? Please consider that due to the new tax laws, you will be expected to pay the approx. 30% in taxes for your entire moving expense if you do a PCS move (let the government arrange the move for you). For some shorter distances, this may not be a problem. However, let's say you're moving across the country and your total moving expense through PCS is around $10,000 (pretty reasonable amount since the government will always seem to choose the most expensive method for travel), you can be expected to owe the IRS approx. $3,000 in taxes for that move. Consider the trade-off. If you can afford to move for cheaper on your own, do it. Otherwise be prepared to lay out thousands of dollars in lump sum.