New Tax Rule for Local Lodging Expenses

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The IRS recently issued long-awaited regulations that permit certain not-away-from-home lodging expenses to be deducted by workers if they are not reimbursed by their employer. Alternatively, if paid for by the employer, the expense can be treated as a tax-free working condition fringe benefit (WCFB) or tax-free accountable-plan reimbursement. Thanks to prior IRS guidance, the value of an employer-provided WCFB … Read More