The Meals & Incidental Expense (M&IE) rates will inreased effective October 1, 2015. Prior to this date the M&IE rates are between $46 and $71 depending on the locality the taxpayer sleeps that night. Effective October 1, 2015, the M&IE rates increase to between $51 and $74. The full per diem tables by state and key city can be found at www.gsa.gov.
The special M&IE per diem rate for taxpayers in the transportation industry increases from $59 to $63 for travel in the continental United States on or after October 1, 2015.
As in the past, taxpayer can choose to use the new rates beginning October 1, 2015, OR continue to use the old rates for the entire year.
It is important to keep a travel log in order to accurately calculate a taxpayer’s per diem allowance. The travel log should include date, destination and purpose of travel.