The IRS released its annual notice which provides the 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:
- The special transportation industry meal and incidental expenses (M&IE) rates
- The rate for the incidental expenses only deduction
- The rates and list of high-cost localities for purposes of the high-low substantiation method
The special per diem rates can be found on IRS.gov at https://www.irs.gov/pub/irs-drop/n-20-71.pdf
