![]() Choose standards that make sense for your company, so long as they also satisfy IRS requirements.ĭo you have an S-Corporation? If so, then there’s more to say about accountable plans. For example, you can require substantiation within 30 days if 60 days seems too long (it is long enough to lose track of quite a few receipts). You can certainly have more stringent requirements than the minimum IRS requirements. The employee must substantiate or return any amounts within 120 days of the statement. Statements: Periodically (at least once a quarter), the company provides each employee with a statement showing unsubstantiated expenses. ![]() Unsubstantiated reimbursements must be returned within 120 days. Substantiation must be received within 60 days of the expense. ![]()
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