IRS Releases Guidance on Per Diem Allowances for Business Expenses Incurred While Traveling
Published September 26, 2023
The Internal Revenue Service (IRS) announced the special per diem rates effective October 1, 2023. Notice 2023-68
provides the 2023-2024 special per diem rates for taxpayers to use in
substantiating the amount of ordinary and necessary business expenses
incurred while traveling away from home. The rates are the special
transportation industry rate, the rate for the incidental expenses only
deduction, and the rates and list of high-cost localities for purposes
of the high-low substantiation method.