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Business expense reimbursements are not considered wages, and therefore are not taxable income (if your employer uses an accountable plan). An accountable plan is a plan that follows the Internal Revenue Service regulations for reimbursing workers for business expenses in which reimbursement is not counted as income.
Money provided to employees in a non-accountable plan is considered taxable income and should appear on an employee's W-2.
Basic items to consider including in an expense reimbursement policy include: Business-travel expenses such as lodging, meals and transportation, but not entertainment. Use of a personal vehicle for business purposes. Telecommuting expenses, such as phone and Internet, may be required under several state laws.
To offer an accountable plan, an employer must comply with three standards: The expenses must have a business connection; The expenses must be substantiated within a reasonable period; and. The employee must return any money not spent to the employer, also within a reasonable period.
What Is an Accountable Plan? An accountable plan is a plan that follows the Internal Revenue Service (IRS) regulations for reimbursing workers for business expenses in which reimbursement is not counted as income. This means that reimbursements are not subject to withholding taxes or W-2 reporting.

People also ask

Reg. 1.62-2(c): expense reimbursements, both for business and personal expenses, are taxable as part of gross income for employees. Exception: if reimbursements are made pursuant to an "accountable plan", the payments are not included in gross income (see IRS Publ.
An accountable plan is a reimbursement arrangement that requires employees to substantiate their business-related expenses to the company within a reasonable timeframe (no more than 60 days from the date of the expense).
How to create an expense reimbursement policy Determine reimbursable expenses. ... List reimbursable expenses. ... Set up non-accountable plan expenses. ... Outline pre-approval process. ... Choose an expense reporting process. ... Create a reporting process & deadline. ... Build your reimbursement. ... Prepare for disputes.
The difference between an accountable and a non-accountable plan is how the payments are treated for tax purposes \u2014 they are either included as income or excluded. For accountable plans, the reimbursement or excess amount is excluded from income and is not subject to withholding taxes.
Accountable Plans A plan under which an employee is reimbursed for expenses or receives an allowance to cover expenses is an accountable plan only if the following conditions are satisfied: there must be a business condition for the expenses; the expense must be in connection with performance of services as an employee.

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