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Wednesday, July 20, 2011

IRS Discontinues High-Low Method for Substantiating Travel Expenses

JULY 19, 2011
On Tuesday, the IRS announced that it is discontinuing the high-low method for substantiating lodging, meal and incidental expenses incurred in traveling away from home (Announcement 2011-42). Last year, the IRS asked for comments on whether the high-low method was still needed, and it received no comments.


http://www.journalofaccountancy.com/Web/20114371.htm

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