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GTN: Hypothetical Tax Withholding

Global Tax Network, Newsletter, November, 2015

22 January 2016

For purposes of this discussion, a hypothetical tax calculation refers to a periodic estimate of an assignee’s annual stay-at-home tax. The computation is prepared to determine the amount of “tax” to be ratably withheld from an international assignee’s wages while on assignment. Many employers will prepare a detailed hypothetical tax calculation when an assignee first goes on assignment and then annually, thereafter. Generally, the annual tax equalization is prepared at the end of the year, or when the home country tax return is prepared, to reconcile the assignee’s actual stay-at-home tax with the hypothetical tax withheld.

  • Is a detailed hypothetical tax calculation necessary?
  • Should our company withhold hypothetical state/provincial/local tax in addition to federal tax?
  • When should we update an assignee’s hypothetical tax?
  • We will be paying out bonuses in March. Should hypothetical tax be withheld on the bonus? If yes, at what tax rate?

Read the complete newsletter here:  http://www.gtn.com/newsletter_2015_11.php

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