To: University Employees
From: Manali Bettendorf, University Controller
Beau Jimmerson, Chief Procurement Officer
Jen Clark, Director of Accounts Payables and Vendor Services
Rebecca Spanos, Director, Travel and Payment Card Services
Walter Miller, Director of Payroll Services
A Formal Notice was sent Nov. 29, 2023 to make employees aware that the University was updating its enforcement of the IRS Accountable Plan effective Jan. 1. The full text is reprinted below, and the notice is also posted on the Finance and Budget website.
As a reminder, employees will need to substantiate business expenses within 60 days or amounts may be taxable. Taxable amounts will be viewable on paystubs beginning with May 2024 payrolls. No reimbursements will be granted if submission is more than 180 days after the expense is incurred, no exceptions.
Please review 108.1 – University of North Carolina at Chapel Hill Procedure on Accountable Plan – Reimbursements for further details.
Accountable Plan Notice Effective Jan. 1, 2024
This notice is to make employees aware that the University is updating its enforcement of the IRS Accountable Plan effective Jan. 1, 2024. An accountable plan allows an employer to reimburse employees on a nontaxable basis when certain requirements are met.
Employees will need to substantiate business expenses within 60 days or amounts may be taxable and reported on Form W-2. No reimbursements will be granted if submission is more than 180 days after expense is incurred. Reimbursements older than 180 days must be submitted prior to Jan. 1, 2024 to receive consideration.
Please review the policy 108 – University of North Carolina at Chapel Hill Policy on IRS Accountable Plan and procedure 108.1 – University of North Carolina at Chapel Hill Procedure on Accountable Plan – Reimbursements for more details. This policy applies regardless of funding source or GL Business Unit.