Tax Update Blog: Permalink
« Previous · Tax Update Blog Home · Next »
PER DIEM RATES UPDATED
October 04, 2005
The IRS yesterdayissued a procedure explaining the updated per-diem rates for expense reimbursements (Rev. Proc. 2005-67). While the tax law imposes strict substantiation requirements for meals and entertainment expense, employers can reimburse employee expenses using the per-diem rates in lieu of requiring traveling employees to substantiate their expenses.
The standard rate for daily meal and incidental expenses is $39 per day starting October 1, 2005. The rate had been $31 per day. In a number of localities, higher standard rates apply.
Links:
Updated Rates (excel format)
2005 Rates through 9/30 (excel format)
Bookmark: del.icio.us • Digg • reddit
Tax Updates
Subscribe to Tax Updates
The items included in the Tax Update Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation.
Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not neccesarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to
Search Tax Updates
Friends and Neighbors
Economics Nerds
Hard-Core Tax Nerds
Gigablogs
Insurance Folk
Goners
Legislation
Tax Update Data Feeds
