Travel and Entertainment Best Practices to Ensure Compliance with IRS Regulations (audio)

  • Credits: 1
  • Format: Self-Study Audio
  • Field of Study: Federal Tax Law
  • Author/Speaker: Mary S. Schaeffer
Course ID: Advanced Preparation: Experience Level:
EWTFM-T-01759-21-S | 6233-CE-0483 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© Apr 2019 Basic Understanding of Taxation Self-Study Video | OnDemand Webinar | Live Webinar
COURSE DESCRIPTION

Complying with IRS Regs regarding expense reimbursements just got a whole lot harder. Organizations everywhere are eyeing the bottom line and insisting on rigid travel and entertainment policy compliance. The IRS is taking an equally harsh stance tightening the rules. Compliance must now be not only with the company policies but also with IRS rules. Otherwise, you could end up answering not only the CFO but also the IRS–and that can be truly ugly.

Guarantee your company is compliant with the latest travel and expense issues. Please join us for this special session where Mary Schaeffer, AP Now editorial direction, and author 101 Best Practices for Accounts Payable.

Topics include:
  • Guidelines for an accountable plan
  • Documentation requirements
  • IRS guidelines for reasonableness
  • A discussion of some bank products that help stop electronic payment fraud
  • Reimbursement practices when employees use their own car, motorcycle, or private plane
  • Receipt requirements and where you might have some flexibility
  • Per-diems
  • Mileage reimbursements when an employee uses his/her own car
  • What to do when an employee loses a receipt
  • Best Practices
Learning Objectives:

After reading the course material, you will be able to:

  • Understand the new rules regarding the deductibility of meals and entertainment under the new Tax Law.
  • Evaluate the guidelines you need to adhere to if your company's T and E expenses are to be deductible on the tax return.
  • Explain to your employees why you shouldn’t reimburse above the IRS guidelines.
  • Create an IRS-compliant travel policy.
  • Incorporate best practices in your T and E policy and procedures so they are IRS compliant.

 

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)
  • Accounting managers, supervisors, and other professionals
  • Accounts payable directors, managers, supervisors, and other professionals
  • Treasurers and Assistant Treasurers
  • Anyone else involved in the organizations' reimbursement activities

 

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:
NASBA
IRS
CTEC