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Receipts required for parking reimbursements?
January 17, 2022
Q. We are reviewing our company's policy on non tax parking reimbursement (transit 132). Are receipts required for reimbursement or will a monthly credit card charge suffice?
A.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.)
The requirement is that the employee provide "reasonable substantiation" to show that the expense was a…
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