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The Internal Revenue Service (IRS) updated its special per diem rates for the transportation industry, incidental expenses and the “high-low” substantiation method. These rates, announced September 26 in Notice 2018-77, apply to allowances paid to employees on or after October 1 for travel on or after that date.
The Internal Revenue Service (IRS) updated its special per diem rates for the transportation industry, incidental expenses, and the “high-low” substantiation method. These rates, announced September 26 in Notice 2016-58, apply to allowances paid to employees on or after October 1 for travel on or after that date.
Yesterday’s Advisor presented basics of expense reimbursement (courtesy of Compensation.BLR.com); today, details of processing and taxation.
Policymakers may debate the federal government’s overall spending habits, but federal employees have long had restrictions on how much they can be reimbursed for travel expenses, for example. And each year, the “per diem” travel reimbursement rates are adjusted. In fact, the feds have released per diem rates, adjusted for inflation, for fiscal year 2012, […]