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What is a "reasonable period" of time in an accountable plan?
October 3, 2023
Q. Per federal tax regulations, expenses submitted after 60 days will be reported as taxable income to the employee, and applicable Federal, State, FICA and Medicare taxes will be deducted from a subsequent salary check.
I want to know if this is applicable only in the cases when the company gives money in advance to the employee to pay the expenses, or it is applicable as well when the company does not give to the employees money in advance and the employees pay the expenses either by their…
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