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The Online Advisor - February 2000
IRS publishes per diem rates for 2000
The IRS has issued per diem rates to be used for the year 2000. Businesses can use per diem rates to reimburse employee expenses for business travel. Employees and self-employed individuals can use the rates in substantiating business travel expense deductions.
The meal and incidental expense rate (M&IE) remains at $42 for high-cost localities and at $34 for other locations.
Under the "high-low" substantiation method for travel within the United States, the per diem rate increases from $185 to $201 for travel to high-cost localities, and from $115 to $124 for travel to any other locality. The IRS also added a number of cities to its list of high-cost locations and removed several others.
For additional details on using per diem rates, contact our office.