Expense Reimbursement

60 Day Policy

Requests for business or travel expense reimbursements (TERs) need to be submitted within 60 days after the date the expense was incurred.  Likewise, travel advances need to be substantiated within 60 days after the expense was incurred.

 

According to IRS regulations, reimbursements and travel advances paid to employees for business and travel expenses under an "accountable plan" are not taxable to the employee if the expenses are: (a) appropriately substantiated and (b) in a timely manner. Appropriate substantiation requires that original invoices be submitted for all lodging expenses, and for any other expenses greater than $75. Non-travel business meals for which reimbursement is requested must also include the date, a detailed description of the business purpose and the names of the persons attending the meal. To comply with the IRS safe harbor substantiation guidelines, any portion of a travel advance that is not substantiated or returned to the University within 60 days after the expense is incurred will be considered taxable income to the employee and the appropriate taxes will be withheld from the employee's next paycheck.