IRS Issues Special Per-Diem Rates

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Business travelers should be aware that the Internal Revenue Service has issued its special per-diem rates. The rates will begin October 1 and last until September 30, 2022. This annual notice provides the 2021-2022 special per diem rates for taxpayers to use in substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home, specifically (1) the special transportation industry meal and incidental expenses (M&IE) rates, (2) the rate for the incidental expenses only deduction, and (3) the rates and list of high-cost localities for purposes of the high-low substantiation method.

For more information, visit irs.gov/pub/irs-drop/n-21-52.pdf.