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Gross-up is a business term, referring to payments with built-in tax compensation. To gross-up a payment, the giver offers more money to the receiver to offset the expected taxes. A tax gross up is applicable to a wide range of payments, such as expense account and salaries, but is most commonly used in reference to salaries.
Often, a tactic to gross up payroll is used to reimburse workers in advance for likely tax liabilities. For instance, consider that a worker is to be paid $6,000 as moving expenses. If the possible tax liability on this amount is $1,000, the company would make a payment of $7,000 to ensure that the employee receives actual funds worth $6,000. In this case, the gross-up is a benefit as the receiver is reimbursed in advance for future tax deduction. Gross-up also has some other applications, for instance, reimbursement for travel expenses.
Among larger companies in the U.S, as many as 77% offer tax reimbursements or tax gross-ups. In one instance, a company executive was given $3.3 million as a gross-up to cover taxes on prerequisites ranging from travel in a corporate jet to personal debts. For these large companies, gross-ups are like an added bonus on a perk as they compensate for taxes on benefits like expense accounts.