Tax Law Updates | New Statutes, Regulations, and Rulings
May 21, 2010
Revenue Procedure Provides Alternative to Employees for Substantiating Travel and Other Expenses
Revenue Procedure 2009-47
RP-2009-47, 9/30/2009
Revenue Procedure 2009-47 provides rules for employees who are reimbursed for lodging, meals, and incidental expenses, or meals and incidental expenses only, while traveling away from home, to substantiate the expenses by per diem allowance in lieu of actual expenses.
According to the Internal Revenue Service (“IRS”), the revenue procedure also provides an optional method for employees and self-employed individuals who are not reimbursed to use in computing the deductible costs they pay or incur for business meal and incidental expenses, or for incidental expenses only if they pay or incur no meal expenses, while traveling away from home.
The…
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