This webinar will cover the tax compliance for employee business expense reimbursements under both accountable and non-accountable employee business expense plans. Accountable plans allow the employer to exclude expense reimbursement from employee wages. Accountable reimbursement plans have strict documentation and recordkeeping requirements and require timely reporting and return of excess reimbursements by employees. In addition, per diem arrangements can be used in lieu of actual substantiation. The webinar will include discussion of these requirements as well as how to report reimbursements that do not qualify under the accountable plan rules and must be included in employee wages. In this webinar expert speaker Patrick A Haggerty, will help attendees that how to manage account properly and report expense reimbursements and facilities provided to employees in compliance with IRS requirements.
WHY SHOULD YOU ATTEND?
Employee expense reimbursement is one of the targets of a current IRS audit initiative. Speaker will also cover the rules and requirements for expense reimbursements, as well as best practices for processing expense reimbursements either in payroll or accounts payable.
AREA COVERED
Understand when per diem rates may be used and why employers may want to use them Know how to determine maximum per diem rates and how to use the high low method Know how to establish and administer an accountable expense reimbursement plan. Understand the importance of control and accounting procedures related to expense reimbursements
LEARNING OBJECTIVES
Determine whether an expense reimbursement qualifies for exclusion from employee wages Know what is required to substantiate various expenses and benefits under an accountable plan Understand the importance of timely processing of reimbursements and collection of excess advance fundsKnow when expense reimbursements or use of company resources must be included in wages
WHO WILL BENEFIT?
Payroll Supervisors and PersonnelAccounts Payable Supervisors and Personnel Public AccountantsInternal AuditorsTax Compliance Officers Enrolled Agents Officers and Managers with Tax Compliance Oversight Company / Business OwnersManagers/ Supervisors Public Agency Managers Audit and Compliance Personnel / Risk Managers
Employee expense reimbursement is one of the targets of a current IRS audit initiative. Speaker will also cover the rules and requirements for expense reimbursements, as well as best practices for processing expense reimbursements either in payroll or accounts payable.
Understand when per diem rates may be used and why employers may want to use them Know how to determine maximum per diem rates and how to use the high low method Know how to establish and administer an accountable expense reimbursement plan. Understand the importance of control and accounting procedures related to expense reimbursements
Determine whether an expense reimbursement qualifies for exclusion from employee wages Know what is required to substantiate various expenses and benefits under an accountable plan Understand the importance of timely processing of reimbursements and collection of excess advance fundsKnow when expense reimbursements or use of company resources must be included in wages
Payroll Supervisors and PersonnelAccounts Payable Supervisors and Personnel Public AccountantsInternal AuditorsTax Compliance Officers Enrolled Agents Officers and Managers with Tax Compliance Oversight Company / Business OwnersManagers/ Supervisors Public Agency Managers Audit and Compliance Personnel / Risk Managers
Speaker Profile

Patrick Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant. He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including Payroll tax issues, FLSA compliance, information returns, and accounting.
Upcoming Webinars

Project Management for Non-Project Managers - Scheduling yo…

Imposter Syndrome: How to Define, Understand & Shift Your E…

Contractor vs Employee: How to Tell the Difference and What…

FDA current recommendations related to timely initiation of…

Complying with the NEW I-9 and E-Verify Regulations - The I…

Impact Assessments For Supplier Change Notices

Implicit Bias: Becoming Aware of Your Inner Storyteller


The Federal Anti-Kickback Statute & Stark Law: What Physici…

Building an Effective Injury Management Process

Fatal Errors Employers Make When Updating Employee Handbook…

From Awareness to Action: Going Beyond the Law in Preventin…

Understanding the Changes Coming to NCCI's Experience Mod i…

Onboarding is NOT Orientation - How to Improve the New Empl…


From Awareness to Action: Going Beyond the Law in Preventin…

FDA Compliance and Clinical Trial Computer System Validation


5 Proven Ways To Engage & Retain Your Team Even During The …


Navigating New Paths: Unveiling Your Unique Abilities for a…

Form 1099 Update 2023: Latest Forms, Rules and Reporting Re…


Strategic Interviewing & Selection: Getting the Right Talen…



Excel - Unleashing the Full Potential of New Functions (Exc…

Amazing (!) AI Tools For Building Your Business

Implementing a Robust Change Control Program - Key Elements…


How to Conduct Annual Product Reviews to Achieve GMP Compli…


What Business Leaders Need to Know About Cybersecurity Prep…

Harassment, Bullying, Gossip, Confrontational and Disruptiv…

Understanding Social Security and Optimizing Retirement Inc…

Human Connection Leadership in 3D: Dare. Dream. Deliver.