New per diem business travel rates became effective on October 1

Are your company’s employees traveling after months of virtual meetings? The IRS announced the fiscal 2022 “per diem” rates that became effective Oct. 1, 2021. You can use these rates to substantiate the amount of expenses for lodging, meals and incidental expenses when traveling. It’s a simplified alternative to tracking actual business travel expenses. The per diem amounts are based on rates set by the IRS that vary depending on locality. After Sept. 30, 2021, the per diem rate for high-cost areas in the continental U.S. is $296. For other areas, the per diem rate is $202. Some high-cost rates are only available part of the year in certain areas. To see all rates: http://bit.ly/3DYdqVE