Truck Driver Tax Deductions Truck Driver Meal Deductions 2015 You can deduct the cost of meals in either of the following situations. 1) It is necessary for you to stop for substantial sleep or rest to properly perform your duties while traveling away from home on business. 2) The meal is business-related entertainment. Generally, you can use the " standard meal allowance " method as an alternative to the actual cost method. It allows you to use a set amount for your daily meals and incidental expenses (M&IE), instead of keeping records of your actual costs. The set amount varies depending on where and when you travel. The "standard meal allowance" refers to the IRS meal allowance rate for M&IE. If you use the standard meal allowance, you still must keep records to prove the time, place, and business purpose of your travel Special rate for  transportation workers . You can use a special standard meal allowance if you work in the transportat...

Direct Deposit Limits In an effort to combat fraud and identity theft, new IRS procedures effective January 2015 will limit the number of refunds electronically deposited into a single financial account or pre-paid debit card to three. The fourth and subsequent refunds automatically will convert to a paper refund check and be mailed to the taxpayer. Taxpayers also will receive a notice informing them that the account has exceeded the direct deposit limits and that they will receive a paper refund check in approximately four weeks if there are no other issues with the return. Taxpayers can track their refunds at  Where’s My Refund? The vast majority of taxpayers will not be affected by this limitation, and we would encourage taxpayers and tax preparers to continue to use direct deposit. It is the fastest, safest way for taxpayers to receive refunds. The direct deposit limit will prevent criminals from easily obtaining multiple refunds. The limit applies to financial acco...