Accounting News

Wednesday, July 20, 2011
IRS Changes to Per Diem

After receiving not public comment on the need for the high-low substantiation method for per diem the IRS plans to issue new guidelines eliminating the method. Businesses using the method would pay employees a per diem instead reimbursing actual expenses that an employee incurs when on business away from home. The per diem was based on the time and place of the travel instead of using per diem rates issued by the IRS.

If you need an accountant to help you in interpreting this new rule give the Accouting Aisle a call at 866.906.5918.

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