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| October 3, 2011 |
IRS Guidance on Travel
The Internal Revenue Service has updated its guidance concerning travel in two important ways. First, there are new rates for substantiating business travel expenses with per diem allowances, rather than with actual expenditures. Second, there are new SIFL (standard industry fare level) rates for determining an employee's income from using an employer's aircraft for non business travel.
IRS Circular 230 Notice
Internal Revenue Service regulations state that only a formal opinion that meets specific requirements can be used to avoid tax penalties. Any tax advice in this communication is not intended or written to be used, and cannot be used by a taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer, because it does not meet the requirements of a formal opinion.
For more information, please contact an attorney in the Armstrong Teasdale Tax Department:
Robert L. Jackson / 314.342.8076 Daniel J. Cooper / 314.259.4715 Guy Schmitz / 314.259.4738 Scott E. Hunt / 314.342.4145 lsewell@armstrongteasdale.com |
John E. Dooling, Jr. / 314.259.4743 jdooling@armstrongteasdale.com Jonathan W. Igoe / 314.342.8019 Joseph D. Demko / 314.342.4143 Christopher J. Anderson / 816.472.3117 Jill M. Palmquist / 314.552.6635 |
This alert is offered as a service to clients and friends of Armstrong Teasdale LLP and is intended as an informal summary of certain recent legislation, cases,
rulings and other developments. This alert does not constitute legal advice or a legal opinion and is not an adequate substitute for the advice of counsel.
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BUT ARE NEITHER SUBMITTED TO NOR APPROVED BY THE MISSOURI BAR OR THE SUPREME COURT OF MISSOURI.