July 5, 2022

Volume XII, Number 186

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IRS Guidance on Travel

The Internal Revenue Service has updated its guidance concerning travel in two important ways. First, there are new rates for substantiating business travel expenses with per diem allowances, rather than with actual expenditures. Second, there are new SIFL (standard industry fare level) rates for determining an employee's income from using an employer's aircraft for non business travel. 

IRS Circular 230 Notice
Internal Revenue Service regulations state that only a formal opinion that meets specific requirements can be used to avoid tax penalties. Any tax advice in this communication is not intended or written to be used, and cannot be used by a taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer, because it does not meet the requirements of a formal opinion. 

© Copyright 2022 Armstrong Teasdale LLP. All rights reserved National Law Review, Volume I, Number 286
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About this Author

The Tax, Employee Benefits, and Trust & Estates practice group handles a wide variety of federal, state, and local tax matters.

The practice group’s work in the tax and employee benefits area includes planning tax strategies for businesses and individuals, applying for rulings and determination letters from the Internal Revenue Service, and representing clients in disputes with the Internal Revenue Service. The group’s representation of business clients includes advice on choice of entity, including C corporation, S corporation, partnership, limited partnership, limited...

816-221-3420
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