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The Secretary of Labor was authorized to implement Trade Readjustment Assistance (TRA) and relocation allowances through cooperating state agencies. TRA are income support payments that were, at that time, paid in addition to an individual's regular unemployment compensation. The original program had no training or reemployment component.
It also ensured that relocation assistance payments were not considered income subject to taxation under the law, or considered in agency determination's of the displaced person's federal aid eligibility, other than low-income housing assistance. [1] Finally, the Act codified the 1985 presidential memorandum. [1]: .04
Benefits under this program include: Up to 130 weeks of training, 104 if not in need of remedial training; 26 weeks of unemployment insurance (Trade Readjustment Allowance - TRA) Workers participating in training are eligible for an additional 52 weeks of TRA; Job search and relocation allowance of up to $1,250
Cons: As Tucker notes, income and social taxes in France are high: up to 45% (and high-income individuals also may need to pay a surcharge of 3% on part of their income).
With tax equalization, housing allowance, cost-of-living adjustment, and other benefits, the typical expatriate compensation package is two to three times the home-country base salary. For example, an expatriate with a €100,000 annual salary will cost the employer €200,000-300,000 per year incl. the relocation costs.
When tax filing season opens on January 29, some taxpayers will have the option of filing their 2023 federal tax returns with a brand new, government-run system. IRS set to launch its free tax ...