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Accountable Plan

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Accountable Plan
A plan for reimbursing employees for expenses such as meals, entertainment, travel, and transportation incurred for business purposes on behalf of the employer. A plan is an accountable plan if the employer requires the employee to adequately account for all business expenses and to return any excess reimbursements. For employees under an accountable plan, reimbursements aren't entered on the tax return as income and the expenses aren't deductible.


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All of the business travel is assumed to be ordinary and necessary and the accountable plan rules are assumed to be met.
Reimbursements under an accountable plan are especially beneficial to clerics subject to the alternative minimum tax (AMT).
62 exempts from adjusted gross income (AGI) payments received from an accountable plan between employers and employees under Regs.
 
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