20. Which of the following is not correct regarding an accountable reimbursement

Question

20. Which of the following is not correct regarding an accountable reimbursement plan? a. In an accountable plan, employees must substantiate their expenses to the employer. b. In an accountable plan, employees must be required to return any reimbursement in excess of substantiated expenses. c. In an accountable plan, employees deduct reimbursed expenses on their tax returns. d. Employees are not taxed on reimbursements they receive from an accountable plan. e. All of the above statements are true regarding an accountable plan (there are no incorrect statements). 20. Which of the following is not correct regarding an accountable reimbursement plan? a. In an accountable plan, employees must substantiate their expenses to the employer. b. In an accountable plan, employees must be required to return any reimbursement in excess of substantiated expenses. c. In an accountable plan, employees deduct reimbursed expenses on their tax returns. d. Employees are not taxed on reimbursements they receive from an accountable plan. e. All of the above statements are true regarding an accountable plan (there are no incorrect statements). a. In an accountable plan, employees must substantiate their expenses to the employer. b. In an accountable plan, employees must be required to return any reimbursement in excess of substantiated expenses. c. In an accountable plan, employees deduct reimbursed expenses on their tax returns. d. Employees are not taxed on reimbursements they receive from an accountable plan. e. All of the above statements are true regarding an accountable plan (there are no incorrect statements). a. In an accountable plan, employees must substantiate their expenses to the employer. b. In an accountable plan, employees must be required to return any reimbursement in excess of substantiated expenses. c. In an accountable plan, employees deduct reimbursed expenses on their tax returns. d. Employees are not taxed on reimbursements they receive from an accountable plan. e. All of the above statements are true regarding an accountable plan (there are no incorrect statements).

Explanation / Answer

The Answer is "E".

All of the Statements are true regarding an accountable plan.

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