Form 2106-EZ: Unreimbursed Employee Business Expenses

AAA

DEFINITION of 'Form 2106-EZ: Unreimbursed Employee Business Expenses'

A tax form distributed by the Internal Revenue Service (IRS) and used by employees deducting ordinary and necessary expenses related to their jobs. Ordinary expenses are those generally considered as common in a particular line of business; necessary expenses are those that are helpful to conducting business. In order to qualify for a deduction from Form 2106-EZ, the employee cannot have been reimbursed by the employer for the expenses.

INVESTOPEDIA EXPLAINS 'Form 2106-EZ: Unreimbursed Employee Business Expenses'

The employee is given the option of reporting vehicle mileage using the standard rate, as well as parking fees, tolls, other modes of transportation (flights, trains) and lodging. Only half of the total expenses related to meals and entertainment can be reported.


The IRS suggests keeping receipts for all expenses of $75 or more.

RELATED TERMS
  1. IRS Publication 535 - Business ...

    A document published by the Internal Revenue Service (IRS) that ...
  2. IRS Publication 587: Business Use ...

    A document published by the Internal Revenue Service (IRS) that ...
  3. IRS Publication 529 - Miscellaneous ...

    A document published by the Internal Revenue Service (IRS) detailing ...
  4. IRS Publication 463: Travel, Entertainment, ...

    A document published by the Internal Revenue Service that provides ...
  5. Standard Mileage Rate

    A set rate the IRS allows for each mile driven by the taxpayer ...
  6. Travel Expenses

    The costs associated with traveling for the purpose of conducting ...
Related Articles
  1. Entrepreneurship

    10 Tax Benefits For The Self-Employed

    Running your own business has both personal and financial perks.
  2. Taxes

    How To Appeal Your IRS Audit

    The auditor's review isn't always the last word. Many taxpayers who are audited can successfully appeal their audits and save thousands of dollars.
  3. Taxes

    How To Qualify For The Home-Office Tax Deduction

    Homebodies can save big on their tax bill. Learn how to get in on the action.
  4. Taxes

    Surviving The IRS Audit

    Keeping thorough records and knowing the penalties make this experience easier than you'd expect.
  5. Professionals

    6 Employment Perks And How To Get Them

    Find out how to get more than money from your employer.
  6. Taxes

    What To Do If You Lost Your W-2

    There's no need to panic if you don't have your Form W-2 to file taxes, there are easy ways to gain access to the missing form or file without it.
  7. Investing

    What Tech Companies Seeking Funding Must Overcome

    Tech companies face a unique set of challenges, including a need for timely responses to changes in technology and difficulty recruiting the right talent.
  8. Economics

    Vietnam -- New Asian Hot Spot For Tech Investment

    Vietnam now has a rapidly expanding tech sector that's attracting investors from around the globe due to low business costs and highly skilled workers.
  9. Taxes

    How Does An IRS Audit Work?

    It doesn't automatically mean an IRS agent will be ringing your doorbell. Here are the different types of IRS audits and how to handle them.
  10. Taxes

    Made A Mistake On Your Tax Return? Don't Panic

    You can always file an amended return. But the sooner you do it, the better.

You May Also Like

Hot Definitions
  1. DuPont Analysis

    A method of performance measurement that was started by the DuPont Corporation in the 1920s. With this method, assets are ...
  2. Asset Class

    A group of securities that exhibit similar characteristics, behave similarly in the marketplace, and are subject to the same ...
  3. Fiat Money

    Currency that a government has declared to be legal tender, but is not backed by a physical commodity. The value of fiat ...
  4. Interest Rate Risk

    The risk that an investment's value will change due to a change in the absolute level of interest rates, in the spread between ...
  5. Income Effect

    In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change ...
  6. Price-To-Sales Ratio - PSR

    A valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the ...
Trading Center