It might soon become more difficult for some employers to handle business travel accounting. The IRS has announced it intends to eliminate the simplified “high-low method” that can currently be used to substantiate business travel expenses for lodging, meals and incidentals. (IRS Announcement 2011-42)
However, an IRS spokesperson said the high-low method will almost certainly remain available for the rest of 2011. Stay tuned for more IRS announcements.
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