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. Travel Expenses

    The costs associated with traveling for the purpose of conducting ...
  6. Standard Mileage Rate

    A set rate the IRS allows for each mile driven by the taxpayer ...
Related Articles
  1. How To Appeal Your IRS Audit
    Taxes

    How To Appeal Your IRS Audit

  2. How To Qualify For The Home-Office Tax ...
    Taxes

    How To Qualify For The Home-Office Tax ...

  3. Surviving The IRS Audit
    Taxes

    Surviving The IRS Audit

  4. 6 Employment Perks And How To Get Them
    Professionals

    6 Employment Perks And How To Get Them

comments powered by Disqus
Hot Definitions
  1. Elasticity

    A measure of a variable's sensitivity to a change in another variable. In economics, elasticity refers the degree to which ...
  2. Tangible Common Equity - TCE

    A measure of a company's capital, which is used to evaluate a financial institution's ability to deal with potential losses. ...
  3. Yield To Maturity (YTM)

    The rate of return anticipated on a bond if held until the maturity date. YTM is considered a long-term bond yield expressed ...
  4. Net Present Value Of Growth Opportunities - NPVGO

    A calculation of the net present value of all future cash flows involved with an additional acquisition, or potential acquisition. ...
  5. Gresham's Law

    A monetary principle stating that "bad money drives out good." In currency valuation, Gresham's Law states that if a new ...
  6. Limit-On-Open Order - LOO

    A type of limit order to buy or sell shares at the market open if the market price meets the limit condition. This type of ...
Trading Center