Five-Minute Tax Briefing

GSA Releases Domestic Per Diem Rates for Fiscal Year 2018: The General Services Administration (GSA) has released the federal domestic per diem rates for fiscal year 2018. The IRS permits taxpayers to use these rates to substantiate business expenses under IRC Sec. 274(d) for lodging, meals, and incidental expenses incurred while traveling away from home. The maximum standard per diem rate has increased from $142 to $144 ($93 for lodging and $51 for meals and incidental expenses). Per diem rates for localities without standard rates range from $144 to $498. The updated rates are effective from 10/1/17 through 9/30/18 and may be downloaded in Excel format via www.gsa.gov/portal/content/103168 . GSA Per Diem Bulletin FTR 18-01, 8/14/17.