Employee Expense Reimbursements
Employee 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 employee expense reimbursements do not meet IRS guidelines, they may be disallowed as expenses and considered compensation to those employees, leaving your organization responsible for the associated payroll taxes – plus any penalties.
This training session will help you to recognize – and accurately report – employee expense reimbursements.
This course covers the rules and requirements for expense reimbursements, as well as best practices for processing expense reimbursements either in payroll or accounts payable, and covers:
- IRS expense reimbursement requirements
- Whether employee expense reimbursements should be run through payroll or accounts payable
- Which payments being made to your employees may be subject to payroll taxes
- Accountable plan rules – and 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
- The accounting issues associated with the use of per diems
- Other payroll best practices
- How to determine the scope and potential areas of focus for your audit
- How to identify any areas of concern prior to an external audit or an audit by another group within your company
- Common areas where mistakes or issues can normally be found
- How a review can help you detect internal control issues
- Where to go to for assistance so you’re not re-creating the wheel
- Devising a game plan on what you want to review and how to divide and conquer
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 ... View Full Profile
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This program has been approved for credit hours through the HR Certification Institute. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
Aurora Training Advantage is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.