Employee Business Expense Reimbursement (2024 Updates)

Course Description:

This webinar will cover the tax compliance for employee business expense reimbursements under both accountable and non-accountable employee business expense plans.

While the Tax Cuts and Jobs Act (TCJA) did not change the treatment of employee business expenses reimbursed under an accountable plan, employee expenses that are not reimbursed under an accountable plan may no longer be deducted by the employee.

Accountable plans allow the employer to exclude expense reimbursement from employee wages. Accountable reimbursement plans have strict documentation and record keeping requirements and require timely reporting and return of excess reimbursements by employees. For certain expenses, per diem arrangements can be used in lieu of actual substantiation of the amount of expense. The webinar will include discussion of these requirements as well as how to report reimbursements that do not qualified under the accountable plan rules and must be included in employee wages.

Areas Covered in the Webinar:

• 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 funds.

• Know when expense reimbursements or use of company resources must be included in wages.

• 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 reimbursement

Who Will Benefit:

• Payroll Supervisors and Personnel

• Accounts Payable Supervisors and Personnel

• Public Accountants

• Internal Auditors

• Tax Compliance Officers

• Enrolled Agents

• Officers and Managers with Tax Compliance Oversight

• Company / Business Owners

• Managers/ Supervisors

• Public Agency Managers

• Audit and Compliance Personnel / Risk Managers

Instructor 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, and information return reporting.