Friday, September 18, 2015
Business Travel Per Diem Rates
The IRS released the 2015–2016 per diem rates for substantiating employees' business expenses under IRC Sec. 274(d) for lodging, meals, and incidental expenses incurred while traveling away from home. The Meal and Incidental Expense (M&IE) rates for the transportation industry increases from $59 to $63 for travel in the continental U.S. and from $65 to $68 for travel outside the continental U.S. The per diem for travel to high-cost localities increases from $259 to $275 ($68 for M&IE), while the rate for travel to other localities increases from $172 to $185 ($57 for M&IE). The incidental-expenses-only rate remains at $5 per day. The updated rates and list of high-cost locations apply to per diem allowances paid to employees after 9/30/15. Notice 2015-63, 2015-40 IRB .