Submitted By: someone
Answered: October 6, 2019 10:45 pm

I am a contract engineer who normally works on projects away from home for less than a year. Are my per diem reimbursements tax free?

If you are reimbursed under an accountable plan, then reimbursements may be tax free. For example, if reimbursements for your mileage exceed the IRS standard mileage rate, then only amounts up to the rate are tax free; excess reimbursements are taxable.

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Tax Glossary

Wash sales

Sales on which losses are disallowed because you recover your market position within a 61-day period.

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