It informs that meal allowances are taxable for a group of employees unless they are traveling overnight, away from home. The three requirements which need to be met for a plan to be counted as an accountable plan include business connection, substantiation and return of excess reimbursement....
Internal Revenue Service. Revenue Procedure 2004-60 keeps in place the $41-per-day limit for meals and incidental expenses that companies can pay drivers in the "lower 48" states and the $46 limit for Alaska, Hawaii, ...
The article reports on the issuance of the annual update on the amounts that can be deducted from allowable plan for business meal and incidental expenses by the U.S. Internal Revenue Service (IRS). It is stated that these rules may allow employers and owner-operators to claim up to $52...