What is the 60-day policy for submission of reimbursements?
A. Under IRS regulations, business expenses are reimbursed as nontaxable income to the employee only when adequate documentation to request a reimbursement is submitted to University Payables within 60 calendar days of (a) the last day of travel (for travel reimbursements) or (b) the date that the business expense was paid or incurred by the employee (for miscellaneous reimbursements). If the request is submitted more than 60 days of these dates, the reimbursement will be considered taxable income to the employee and included on the employee’s Form W-2, unless a justification for an exception is submitted with the request and approved by University Payables.
