|01:00 PM ET / 12:00 PM CT / 11:00 AM MT / 10:00 AM PT|
|Duration: 90 minutes||Speaker: Patrick A. Haggerty, EA|
Employers often provide travel advances, business expense reimbursement, or use of company property to employees. Employee expense reimbursement is one of the targets of IRS audit initiatives. Unless expense reimbursements are made under an accountable plan, the payments must be included in employee wages. Accountable expense reimbursement plans provide tax savings for both employers and employees. But insufficient documentation or faulty procedures can result in the reclassification of the reimbursements as wages. This results in additional tax and possibly penalties. An employer may even become liable for taxes it failed to withhold from the employee reimbursement.
In this informative webinar, you will learn how to properly account for and report expense reimbursements and facilities provided to employees in compliance with IRS requirements.
Who Should Attend:
Pat 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.
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