Let Finance know there’s some new limits for them to get acquainted with.
The IRS released the per-diem rates for Fiscal Year 2018, effective Oct. 1, 2017.
The new federal per-diem rate for the continental United States (CONUS) will increase to $144 (up from $142). Broken down, that’s:
- $93/day for lodging (up
from $91), and
- $51/day for meals and incidental expenses (same as last year).
The feds also released the special per-diem rates – also known as the high-low rates – which designate one per-diem rate for all high-cost locations and another rate for all others.
These rates can be used for substantiating lodging, meals and incidental expenses, or for meal incidental expenses only (M&IE).
The high-low per-diems for lodging, meals and incidental expenses increases slightly to $284 for high-cost locations (from $282) and $191 for other locations (from $189).
The high-low rates for M&IE remain unchanged at $68 and $57, respectively. Seven places have been added to the list of high-cost locations for FY 2018.