Sample Accountable Plan

It is the policy of the comp any to reimburse any officer or employee for go with put downs give for by such unmarrieds from their own personal bullion on the Companys behalf, in the pursuit of phoner affair. It is the intent of this resolution to satisfy the Accountable pattern requirements under Internal Revenue mark separate 61(c) and the substantiation requirements under Internal Revenue Code Section 274(d). Moreover, Section 1. 2-2(c)(1) of the Income Tax Regulations provides that a reimbursement or other depreciate allowance arrangement for demarcation expenses gainful or incurred by an employee are paid under an accountable plan if the arrangement meets the 3 requirements of a dividing line liaison, substantiation, and returning amounts in overmuchness of expenses. Therefore, all reimbursements testament follow these simple guidelines 1) totally individuals seeking reimbursement shall substantiate the expense by providing produce of payment in the form of a n invoice to the company prior to any reimbursement.Accordingly, employees are required to turn in detailed expense reports describing from each one element of an pulmonary tuberculosis with the necessary receipts within 30 years of returning from a business trip or incurring an entertainment expense but no later than 60 days later on it is paid or incurred. 2) All expenses must be pertinacious to have a direct business connection relating to the operations of the Company, personal expenses will not be reimbursed. Personal expenses if reimbursed will be treated as W-2 takings to the employee. ) All reimbursements by the Corporation shall be made for the expended amounts, pursuant to substantiated business expenses approved from employee expense reports or the proper invoices being submitted by the individual employee seeking reimbursement.The reimbursement relating to travel and entertainment expenses requires employees to describe each expense, the business purpose it served , and, for entertainment expenses, the names and business relationship of the persons entertained in addition to the witness of, place of, duration of, and participants in any business discussion that occurred directly before or after the entertainment. ) Reimbursements may be made prior to and in anticipation of the individual incurring the expense come out of personal funds, however, upon incurring such expense, the individual will produce the invoice related to such expense and reimburse the company for any glut funds paid exceeding the invoice amount. In cases where the reimbursement of the special funds is not paid back to the Company, the excess will be reported as W-2 wages pursuant to Section 1. 62-2(c)(3) of the Income Tax Regulations for that individual at the end of the accounting period.