Changes in Per-diem Rates for Business Expenses
- September 14, 2020
- Posted by: Hansen_Sweeney
- Categories: News, US/UK
Business travellers who incur expenses while traveling away from home have new per-diem rates to use in substantiating certain of those expenses (Notice 2020-71). The new rates are in effect from Oct. 1, 2020, to Sept. 30, 2021 and cover the transportation industry meal and incidental expenses rates, the rate for the incidental-expenses-only deduction, and the rates and list of high-cost localities for purposes of the high-low substantiation method. The updated rates are effective for per-diem allowances paid to any employee on or after Oct. 1, 2020, for travel away from home on or after that date, and supersede the rates in Notice 2019-55.