TAX ALERT: BUSINESS-TRAVEL PER DIEM RATES UPDATED FOR 2015

By John N. Evans  |  November 12, 2014  |  Download PDF

Effective Oct. 1, IRS Notice 2014-57, 2014–2015 Special Per Diem Rates, updates the per diem rates that can be used for reimbursement of ordinary and normal business expenses incurred while employees travel away from home. It also revises the list of high-cost localities for use in the high-low substantiation method. The per diem rates, which are established by the General Services Administration (GSA), are updated before the end of the federal government’s fiscal year. Some employers elect to use these rates to simplify recordkeeping.


About John N. Evans

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John N. Evans, CPA, brings nearly 40 years of experience in corporate tax to his role as the Partner-in-Charge of Marks Paneth’s New Jersey office. He specializes in tax issues affecting closely held businesses and their owners. He has worked on tax matters related to conversions of large, multinational C corporations into S corporations including planning to minimize the tax on subsequent dividend distributions. He has reorganized S corporations and limited liability companies (LLCs) so... READ MORE +


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