Purchasing Card Compliance with IRS Guidelines

Why Should You Attend :

Are you meeting all the requirements for credit card reporting that the IRS has put forth? Many times when faced with an audit, issues are found. The more information you are armed with when facing potentially foreign territory. While the recent legislation from the Durbin amendment does not affect issuance or usage of credit cards it has thrown light on the entire process.

With the evolution of software systems by credit card issuers compliance is becoming an easier process, but there are still many things that need to be reviewed at least monthly to make sure all requirements are being met. This session will address some of the hot topics in purchasing card compliance such as, the dollar amount of the receipt as well as the amount of food, travel, and lodging expenses that can be deducted as business expenses.

As usage of purchasing cards has increased in recent years so has the governance of these transactions. Many changes have occurred or been proposed that haven’t been as publicized as needed so many companies are left wondering. The goal of this webinar is to help uncover some of these changes so your business can operate optimally in the credit card space.

Areas Covered in the Webinar :

• Receipt requirements.
• Standard for 1099 reporting.
• Percentage/ dollar amount of business expenses that can be written off.
• Reasoning for business expenses.
• Requirements for names on cards.

Who Will Benefit :

The following personnel will benefit from this training

• Financial Officers
• Risk Officers
• Internal Auditors
• Operational Risk Managers
• Credit Card Program Administrators
• Members of National Association of Purchasing Card Professionals (NAPCP)

Instructor Profile :

Brent Meyers, has worked for Commerce Bank since May 2008 and is responsible for business development and commercial card services within the Midwest Territory. He specializes in Automated Accounts Payable and Electronic Invoice Presentment and Payment (EIPP) solutions. Prior to joining Commerce Bank, he spent more than 8 years working at Enterprise Rent-A-Car, located in St. Louis, MO. There he held positions in Accounts Payable; Claims; and Credit Cards, both on the merchant and issuing side.

Brent received his Finance degree from Indiana University in Bloomington, IN. Brent is an Accredited Payables Solutions Consultant (APSC) through The Accounts Payable Network (TAPN) organization as well as a Certified Purchasing Card Professional (CPCP) through the National Association of Purchasing Card Professionals (NAPCP) organization.

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