Does your business require you to travel away from home? Are you the one who double checks to make sure you obtain every receipt for every expense paid during your business trips? Then you should be relieved to hear that the IRS has updated its per diem (daily allowance) rates for the expenses you incur on your various business trips.

As of October 1, 2016, the daily rates for business traveling are $282 for high-cost locations and $189 for any other location. A list distinguishing such high-cost locations can be found in Notice 2016-58 on the IRS website, a link to which is located below. These rates include meals, lodging, and incidental expenses.

For any business traveling expenses that occurred between October 1, 2015 and September 30, 2016, please refer to IRS Notice 2015-63.