From: Federal Law Alerts
IRS Publishes 2015-2016 Special Per Diem Rates
From: Federal Law Alerts
On September 16, 2015, the IRS released the 2015-2016 special per diem rates for taxpayers to us in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home. The rates are effective for the period from October 1, 2015 to September 30, 2016.
The guidance provides the special transportation industry meal and incidental expenses (M&IE) 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.
Read IRS Notice 2015-63
