Per Diem income must meet ALL of the following requirements in order to be considered:
- History of receipt for at least 2 years
- Can not be reimbursement for expenses (the borrower does not need to submit receipts to receive pay)
- Must be taxable income (reported to the IRS)
- Needs to be a set rate
- Employer should verify if per-diem income is likely to continue
The employer must address the income: Is the borrower required to travel out of state? Is the income received regardless if he travels? Would they consider the income received an allowance rather than a reimbursement?
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