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Per Diem Travel Rates Updated - Emil Estafanous, CPA : Emil Estafanous, CPA

Per Diem Travel Rates Updated

The IRS released updated sovereign per diem rates and procedures Sep 30 (Rev. Proc. 2010-39) for substantiating deductible losses or employer-paid allowances for lodging, meals, and immaterial losses incurred in business-related transport divided from home. The income procession supersedes Rev. Proc. 2009-47, released Sep 30, 2009, and is generally effective for amounts paid or losses paid or incurred on or after Oct 1, 2010.

In general, underneath a per diem confirmation method, if an employer or other payor pays a per diem stipend in lieu of reimbursing tangible losses for lodging, meals, and immaterial expenses, a volume deemed substantiated for any calendar day is a obtuse of a stipend volume for that day or a volume computed underneath sovereign per diem rates for a place of transport within a continental United States (CONUS). A apart sovereign rate relates to per diem allowances only for dishes and immaterial losses (MIE).

For functions of a “high-low” confirmation method, a per diem rate for transport to certain “high-cost localities” decreases in mercantile 2011 to $233 (the prior rate was $258). For other localities within CONUS, a rate decreases to $160 from $163 previously. The volume of a high and low rates that is treated as paid for dishes is unvaried during $65 and $52, respectively.

The rates for places outward CONUS are set by a U.S. Secretary of Defense and might be found, along with a CONUS rates, during the GSA’s website

For a final 3 months of calendar year 2010, a latest income procession also provides transition manners for regulating mercantile 2010 rates for a per diem confirmation process for transport to CONUS localities. Transition manners also are supposing for use of a special travel attention rates by taxpayers who used a sovereign MIE rates during a initial 9 months of calendar 2010, and use of a high-low confirmation process by an employer or other payor that used a per diem confirmation process for a initial 9 months of calendar 2010.

About Emil Estafanous, CPA
Certified Public Accountant (CPA) Tax Professional committed in representing taxpayers and resolving their tax problems.

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