Transition rules for the per diem rates in effect Oct. 1
September 30, 2008 by Carol KatarskyPosted in: Communication, In this week's e-newsletter, IRS regs, Latest news & views, T&E, Tax compliance
Use per diems? You’ll need to be up-to-date on IRS’ latest rules for transitioning from ’08 rates to ’09.
In short, even though the new rates take effect on Oct. 1, you can continue to use the “old” rates through Dec. 31, 2008. Just one catch: If you do so, you can’t use the “new” rates until Jan. 1, 2009.
Bottom line: You can’t pick and choose which set of rates you use for a particular trip, city, etc.
For all the details, check out IRS Revenue Procedure 2008-59.
Tags: A/P, IRS rules, Payroll, Per Diems, T&E, Tax compliance
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