Definition. The total sum of money due for the purchase of a good or service that must be paid by the set due date. In relation to taxes, the money owed to the government when required tax amount totals a greater number than total tax payments previously made.efinition. The total sum of money due for the purchase of a good or service that must be paid by the set due date. In relation to taxes, the money owed to the government when required tax amount totals a greater number than total tax payments previously made.
The Internal Revenue Service has set the special per diem rates starting Oct. 1, 2015, which taxpayers can use to substantiate the amount of expenses for lodging, meals, and incidental expenses when traveling away from home.
What is the federal per diem rate for my area?Publication 1542, Per Diem Rates provides the rates for all continental U.S. areas.Return to top 3. What does per diem cover? There is a per diem rate for combined lodging and meal costs, and a per diem rate for meal costs alone.An employer mayuse either per diem method for reimbursing employee travel expenses. A self-employed person can only use per diem forthe meal costs.Return to top 4.here is a per diem rate for combined lodging and meal costs, and a per diem rate for meal costs alone. An employer mayuse either per diem method for reimbursing employee travel expenses.