As per IRS rules, expenses must be bothordinary and necessaryto be deductible; otherwise, the IRS may deny them or consider them "lavish" and also not allow them, though this is rarely applied.5 In the context of non-accountable plans, "ordinary and necessary" has a more lax definitio...
The difference between an accountable and a non-accountable plan is tax. Accountable plans meet the IRS’ requirements for business expense reimbursements to be excluded from an employee's gross income. Non-accountable plans don’t. Any reimbursement made in this plan counts as income and is subj...
Internal Revenue Service's (IRS) caution to business enterprises for their responsibility to pay the taxes timely, despite their outsourcing of payroll and employment tax functions to third-party payroll service pro...
Did you want to chat about this? Do you have questions on how Accountable Plans work? Let’s chat! We typically schedule a 20-minute complimentary quick chat with one of our Partners or Senior Tax Professionals to determine if we are a good fit for each other, and how an engagement with...
IRS Denies Exempt Status for Non-MSSP Accountable Care OrganizationsC. Frederick Geilfuss II
A bill that would make the Internal Revenue Service "more accountableto the people" has been...By J. Landis Fleming
Time for Professionals to Be More Accountable; SUPPORT SERVICES