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- Title
IRS Issues Ruling on Wages Recharacterized as Nontaxable Reimbursements.
- Authors
Dennis-Escoffier, Shirley
- Abstract
The article reports that the U.S. Internal Revenue Service (IRS) has issued a revenue ruling providing guidance on the taxability of situations in which employers restructure compensation plans to convert a portion of wages into nontaxable reimbursements. According to Regulation 1.62-2(f), the last requirement is satisfied if the employee repays the employer within a reasonable time any amount paid under the arrangement in excess of the substantiated amount.
- Subjects
UNITED States; TAXATION; EMPLOYEE benefits; UNITED States. Internal Revenue Service; REVENUE rulings
- Publication
Journal of Corporate Accounting & Finance (Wiley), 2013, Vol 24, Issue 2, p87
- ISSN
1044-8136
- Publication type
Article
- DOI
10.1002/jcaf.21835