- SPONSOR(S): Mechelle Clayton, Manali Bettendorf, Beau Jimmerson
- DEPT OR DIVISION: ITS Enterprise Applications
- PROJECT MANAGER: Mike Masemore
- STATUS: In Progress
- Project Theme: Improving Process and Operations
What are we going to do?
Updating ConnectCarolina to enforce compliance with the IRS Accountable Plan effective January 1, 2024. This change will enforce the IRS requirements that submission of reimbursements older than 60 days are taxable. No reimbursements will be issued if the submission is more than 180 days after the expense is incurred.
Why are we doing it?
The project is being implemented to ensure compliance with tax statutes relating to reimbursements. Non-compliance could have serious implications.
How does this impact our UNC community?
Faculty, Staff and Students will need to submit business expenses within 60 days to avoid being taxed on the reimbursement. Expenses submitted more than 180 days after they are incurred will not be reimbursed.
When is this happening?
The project started on October 2023 and will be effective Jan 1, 2024. The project is expected to be completed by April 2024.