Business Travel Per Diem Rates

The IRS has released the 2023-2024 per diem rates for substantiating employee business expenses under IRC Sec. 274(d) for lodging, meals, and incidental expenses incurred while traveling away from home. The Meal and Incidental Expense (M&IE) rates for the transportation industry are $69 for travel in the continental U.S. and $74 for travel outside the continental U.S. The per diem for travel to high-cost localities has increased from $297 to $309 ($74 for M&IE), while the rate for travel to other localities has increased from $204 to $214 ($64 for M&IE). The incidental-expenses-only rate remains at $5 per day. The updated rates and list of high-cost locations apply to per diem allowances paid to employees after 9/30/23. Notice 2023-68.