Federal per diem rates are set by the General Services Administration (GSA) and are used by all government employees, as well as many private-sector. Per-diems are fixed amounts to be used for lodging, meals, and incidental expenses when traveling on official business. Usually the IRS statute of limitations cuts off three years after you file your taxes, unless you're suspected of fraud or deliberately under-reporting 25 percent or more of your income. FY 2023 Per Diem Rates apply from October 2022 - September 2023. Keep the expense records in your files for three years. You'll also have to report the excess reimbursement - the amount above the standard federal per diem - on the employee's W2. If your employee had to spend $200 on a business meal with a client and you reimburse her, you'll need a receipt for the meal in case the IRS ever checks up. You will, however need a written statement, log book or other document giving the dates your employee was out of town, the destination and the business purpose of the trip.Īccept receipts for any meal expenses that went above the federal per diem rate. Meals and Incidental Expenses (M&IE) In addition to receiving round trip tickets to your destination and lodging for the nights that you need to stay there, you also get a flat-rate per diem for Meals and Incidental Expenses (M&IE). Travelers are limited to federal per diem amounts categorized as the Meals and Incidental Expenses Rate (M & IE Rate). With a per diem, you don't need receipts for each meal the forms showing you paid out the per diem are proof of expense, if it's at the federal rate. The University supports per diems for meals in. Instruct your employees to keep a record of their business travel. Grantees should follow their own travel and per diem rules and costs when charging travel expenses to their Federal grant. If you drove to the airport, use Concurs Mileage Calculator to figure out your reimbursable miles.
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