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

FDA's Technology Modernization Action Plan (TMAP) And Impac…

Nailing the Candidate Experience, Attracting Talent

Stop Letting that Difficult Person Ruin your Day - Effectiv…



Developing and Implementing Inclusive Leadership Strategies

Improving Organizational Performance through Enhanced Emplo…

Supervising a Human Error Free Environment: You can do a Lo…

Creative Leadership through Emotional (EQ) and Humor (HQ) I…


New Announcement! DHS Terminates The I-9 Form Remote Option…

Faster Payments in Today's World - Details on the Different…

Payroll Management - Tips To Make Payroll Processing Easier…

FDA's new Cosmetic labeling requirements

Why EBITDA Doesn't Spell Cash Flow and What Does

Ultimate Persuasion Strategies! - Secret Influence Tools & …

Introduction to Design of Experiments

Small Business Management Made Simple: Tools, Tips & Techni…

Design Control for Medical Devices and Combination Products

I-9 Audits: Strengthening Your Immigration Compliance Strat…

Employee Business Expense Reimbursement (2023 Updates)


Project Management for administrative professionals


Accounting For Non Accountants : Debit, Credits And Financi…



Healthcare Data Analytics: Methods of matching scarce resou…

Establishing Appropriate Quality Metrics and Key Performanc…

Managing Toxic & Other Employees Who have Attitude Issues

Confessions Of A Cia Spy - The Art Of Human Hacking

Harassment, Bullying, Gossip, Confrontational and Disruptiv…

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


The Importance Of Documentation For Supervisors And Managers