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Worker expense reimbursements are subject to IRS guidelines and can be disallowed as expenses – and even considered compensation to those employees – if not handled correctly. Further, if worker expense reimbursements do not meet IRS guidelines, they may be disallowed as expenses and considered compensation to those workers, leaving the employer responsible for the associated payroll taxes – plus any penalties.
Taxable and nontaxable fringe benefit are scattered throughout the Internal Revenue Code. Benefits can be hid in Sec 274, 162, 119, 132, 127, and 82. Add in numerous Announcements, Notices and Regulations and we have a complex web. This course will concentrate on the development of an Accountable Reimbursement Plan under Sec 274 and accompanying regulations plus recent pronouncements and inflation increases.
Instructor
Steven D. Mercatante
Steven Mercatante is the principal and founder of TIR Consulting, LLC. He is a nationally recognized leader in tax reporting education and consulting on specialized compliance issues. He has conducted on-site consultation for corporate clients from across the world and led countless seminars and webinars for Convey Compliance Systems, IAPP, Balance Consulting, The Accounts Payable Network, Accounts Payable Now and Tomorrow, Progressive Business Conferences, The Center for Competitive Management, and more.
He is also a published author, with numerous articles published on tax and financial law, and he has authored and published a series of tax guides on topics such as: W-9/1099 & W-8/1042-S compliance and reporting, payment cards, U.S. State & Local Reporting, worker compensation issues, international tax compliance, and more.