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Current as of October 02, 2022 | Updated by FindLaw Staff
Yes, the home marketing incentive payment is considered income. Consequently, you will be taxed, and your agency will withhold income and employment taxes, on the home marketing incentive payment. You will not, however, receive a withholding tax allowance (WTA) to offset the withholding on your home marketing incentive payment, nor will you receive a relocation income tax (RIT) allowance payment for substantially all of your Federal, state and local income taxes on the incentive payment.
Cite this article: FindLaw.com - Code of Federal Regulations Title 41. Public Contracts and Property Management § 41.302–14.7 Are there tax consequences when I receive a home marketing incentive payment? - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-41-public-contracts-and-property-management/cfr-sect-41-302-14-7/
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