Can I claim the difference between the IRS standard and my actual corporate travel reimbursement?

Question

I've been doing a good amount of business travel lately. My employer reimburses mileage and provides a per diem. However, both those amounts are below the standard IRS rates. For instance, the IRS mileage deduction is $0.485 per mile, while my company reimburses $0.405 cents per mile. The IRS per diem for the region I travel to is $44 / day while my company pays $35 / day.
When I file my 2007 taxes, can I claim the difference between the allowable and actual reimbursements and an unreimbursed business expense?
I travelled 2,000 miles for business, so was reimbursed $810. At the IRS mileage rate, that would have been $970. Can I claim the $160 as an unreimbursed business expense? Is the scenario different for mileage and the per diem?

I'd prefer answers from folks who have actually faced the situation (or tax specialists) rather than speculation. Many thanks!

Answer 1

You can indeed deduct the difference. You use form 2106 Employee Business Expenses. Once that form is finished, the 'bottom line' will go to your Schedule A - Itemized Deductions. Any expenses you have that exceed 2% of your Adjusted Gross Income will go towards Itemizing your deductions. This will be added to your mortgage interest, medical expenses (in excess of 7.5% of your AGI - and in some cases 10%), charitable contributions, and what you've paid in state and local taxes.
IF, when you add all of that together, it is more than the standard deduction for your filing status, you will have successfully lowered your taxes and deducted your work expenses. If not, you have learned a new tax form.
But yes, you can deduct the difference between what IRS gives and what company pays.

Answer 2

I'll add that the Form for calculating this is 2106 and the result on that form is transfered to Schedule A. But like has been said this is subject to the 2% reduction and you must be itemizing to be able to claim it.

Answer 3

You can only claim unreimbursed employee business expense that exceeds 2% of your AGI, so you probably won't be able to claim the difference unless you have other expenses. And you have to itemize to claim it.

Answer 4

The difference between the standard rates and the amount reimbursed is deductible if you itemize your deductions.