THE current per diem rate of $59.00 per day will not change effective today Oct 1, 2010/.
It is $59.00 US and $65.00 Mexico or Canada.
the current wording is directly from the IRS web site
Transportation industry per diem. Effective Oct. 1, 2010, taxpayers in the transportation industry paying (or deducting) a per-diem only for M&IE may treat $59 as the M&IE rate for all localities within CONUS and $65 as the M&IE rate for all localities outside of CONUS (same as the previous rates). (Rev Proc 2010-39, Sec. 4.04(3)) A transition rule provides that taxpayers that used the federal M&IE rates or the special transportation industry rates during the first nine months of 2010 for an individual can't switch to the other method for that individual until 2011. ( Rev Proc 2010-39, Sec. 4.04(6) )
Franklin Katz, ATP ,PA, PB
Frank’s Tax and Business Service
120 York Rd
Kings Mountain, NC 28086-3151
(704) 739-4039
Fax: (704) 739-3934
Providing Professional Accounting Services and Income Tax Preparation
Circular 230 Disclaimer – Any tax advice in this communication (including any attachments) is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding tax related penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or tax-related matters addressed herein.
It is $59.00 US and $65.00 Mexico or Canada.
the current wording is directly from the IRS web site
Transportation industry per diem. Effective Oct. 1, 2010, taxpayers in the transportation industry paying (or deducting) a per-diem only for M&IE may treat $59 as the M&IE rate for all localities within CONUS and $65 as the M&IE rate for all localities outside of CONUS (same as the previous rates). (Rev Proc 2010-39, Sec. 4.04(3)) A transition rule provides that taxpayers that used the federal M&IE rates or the special transportation industry rates during the first nine months of 2010 for an individual can't switch to the other method for that individual until 2011. ( Rev Proc 2010-39, Sec. 4.04(6) )
Franklin Katz, ATP ,PA, PB
Frank’s Tax and Business Service
120 York Rd
Kings Mountain, NC 28086-3151
(704) 739-4039
Fax: (704) 739-3934
Providing Professional Accounting Services and Income Tax Preparation
Circular 230 Disclaimer – Any tax advice in this communication (including any attachments) is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding tax related penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or tax-related matters addressed herein.