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Accountable plan expenses for contractors
April 16, 2024
Q. I always thought the "accountable plan" was specific to handling of employee expenses and not contractors (external suppliers) that send us invoices. Do we have the option to report or not to report on a contractor's/supplier's 1099 the related T&E expenses that are reflected on supplier invoices? Our preference is to report all payments (services and T&E) but want to make sure our reasoning is correct.
A.
(Answered by IOFM's third-party tax experts)
Use of the “accountable plan” rules for…
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