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.
The special per diem rates for 2015-16 that taxpayers can use for substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home were set by the IRS on Sept. 16.Advertisement. The new per diem rates will go into effect on Oct. 1.he special per diem rates for 2015-16 that taxpayers can use for substantiating the amount of ordinary and necessary business expenses incurred while traveling away from home were set by the IRS on Sept. 16. Advertisement.