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Receipts required for parking reimbursements?

January 17, 2022
January 17, 2022

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Q. We are reviewing our company's policy on non tax parking reimbursement (transit 132). Are receipts required for reimbursement or will a monthly credit card charge suffice? A. (Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.) The requirement is that the employee provide "reasonable substantiation" to show that the expense was a…

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