Updated IRS Travel Per Diem Rates Published
Post date
October 06, 2016
Body
The IRS recently updated its per diem rates for travel expenses for fiscal year 2017. Ciuni & Panichi explains the details of using per diem rates, and advises businesses to look into whether this method would simplify their operations.
Instead of reimbursing employees for their actual expenses for lodging, meals and incidentals while traveling, employers may pay them a per diem amount, based on IRS-approved rates that vary from locality to locality. If your company uses per diem rates, employees don't have to meet the usual recordkeeping rules required by law."