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US: IRS Announces Discontinuance of “High-Low Method” for Substantiating Travel Expenses

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On July 19, 2011, the U.S. Internal Revenue Service (IRS) released an advance copy of Announcement 2011-42 (the Announcement) advising taxpayers that it intends to discontinue authorizing the high-low per diem method for substantiating lodging, meal, and incidental expenses incurred while traveling away from home. This change was proposed in Revenue Procedure 2010-39 which... »

US: Guidance on Substantiating Away-from-Home Business Expenses

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On September 30, 2010, the U.S. Internal Revenue Service (IRS) released an advance copy of Rev. Proc. 2010-391 — an update of the rules for determining when the amount of ordinary and necessary business expenses of an employee for lodging, meal, and incidental expenses (or for meal and incidental expenses) incurred while traveling away... »

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