meal deductions Archive
IRS explains which meals qualify for temporary 100% expense deduction
April 16, 2021
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TweetShareSharePin0 Shares News Expenses & Deductions By Sally Schreiber, J.D. The IRS released guidance on Thursday explaining when the temporary 100% deduction for restaurant meals is available and when the 50% limitation on the deduction for food and beverages continues to apply for Sec. 274 purposes (Notice 2021-25). Under Sec. 274(n)(1), a deduction for any
