Restaurant Entertainment Expenses Fully Deductible, IRS Says – Bloomberg Tax

Restaurant Entertainment Expenses Fully Deductible, IRS Says – Bloomberg Tax





By Sam McQuillan
Businesses can claim a 100% deduction on restaurant meals through the end of 2022, the IRS announced.
The IRS on Thursday released guidance which temporarily allows businesses a full deduction for food and beverages purchased from restaurants under a federal virus relief law, starting after Dec. 31, 2020 and before Jan. 1, 2023.
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