Tag: substantiate

  • IRS Announces Per Diem Rates for Business Travel

    IRS Announces Per Diem Rates for Business Travel

    In Notice 2020-71, the IRS announced per diem rates that can be used to substantiate the amount of business expenses incurred for travel away from home on or after October 1, 2020. Employers using these rates to set per diem allowances can treat the amount of certain categories of travel expenses as substantiated without requiring…

  • You Still Have Time to Get Substantiation for 2018 Donations

    You Still Have Time to Get Substantiation for 2018 Donations

    If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t received such a letter — can you still claim an itemized deduction for the gift on your 2018 income tax return? It depends. Basic requirements…