Understand the difference between an IRS approved accountable and nonaccountable plan
Handling and processing employee expense reimbursements can be challenging enough, but to make sure that the expense program is in compliance with IRS rules to ensure that the plan remains a nontaxable event can be overwhelming.
In this webinar expert speaker, Dayna J Reum CPP will give you the tools and knowledge needed to be an expert at ensuring that your expense plan is considered an accountable plan and help you avoid the common mistakes that can make employers withhold taxes on such reimbursements. Dayna will also review special concerns such as electronic methods, frequent flyer miles, spousal travel concerns, and per-diem plans.
She will also share the best practices on how to handle employee expense reimbursements and will review the different IRS approved methods from Per Diem to Accountable and non-accountable plans. Electronic based reimbursement programs and requirements the IRS has for them will be discussed in detail during the webinar.
Webinar Objectives
- Understand the difference between an IRS approved accountable and nonaccountable plan.
- How the partnership between payroll and AP is so important
- Understanding per diem what is it and how does it work
- How to apply IRS rules and stay compliant
- What are the IRS rules and why are they so important
- When does an expense become taxable to an employee
Webinar Agenda
- Expense requirements
- Accountable Plan vs. Non-Accountable Plans
- Accountable plan rules - how they apply to employee travel and expense reimbursements
- How employee business expenses made under accountable plans can be excluded from an employee's gross income
- Daily Transit Expenses
- Web-Based Expense Plans
- Per Diem Plans and IRS approved methods
- Best Practices
- Taxation Concerns
Who Should Attend
- Payroll Executives/Managers/Administrators/Professionals/Practitioners
- Human Resources Executives/Managers/Administrators
- Hiring Managers
- Accounting Personnel
- Business Owners/Executive Officers/Operations and Departmental Managers
- Attorneys/Legal Professionals
- Any individual or entity that must deal with the complexities and requirements of Payroll compliance issues
