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This annual notice provides the 2023- 2024 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home, specifically (1) the special transportation industry meal and incidental expenses (M&IE) rates, (2) the rate for the incidental expenses only
The limit is twice the highest federal per diem rate allowable at the time of your travel. (Generally, the federal per diem is the amount paid to federal government employees for daily living expenses when they travel away from home within the United States for business purposes.)
12 paź 2023 · As of October 1, 2023, the special meals and incidental expenses (M&IE) per diem rates for taxpayers in the transportation industry are $69 for any locality of travel in the continental United...
20 mar 2024 · For fiscal year 2024 (which began October 1, 2023), the standard rate is $166. Of that amount, $107 is for lodging and the remaining $59 is for meals and incidental expenses (M&IE). The GSA also sets rates for over 302 specific destinations where the cost of living tends to be higher than average.
12 lip 2024 · The IRS per diem rates for 2024 have been updated, impacting how businesses and employees handle travel expenses. These changes are crucial as they directly affect reimbursement processes and tax reporting. Understanding the new rates is essential for compliance and financial planning.
31 maj 2024 · Per diem rates. GSA establishes the rates that federal agencies use to reimburse their employees for lodging and meals and incidental expenses incurred while on official travel within the continental United States (CONUS). A standard rate applies to most of CONUS.
28 wrz 2023 · The IRS makes it easy for business travelers by allowing the use of “per diem” rates, which are daily allowances to compensate for lodging, meals and incidental expenses incurred on business trips. The rates are updated every year. The 2023-2024 rates take effect October 1st 2023. Per diem explained.
