FICPA Podcasts

Federal Tax Update: Meals and Entertainment Guidance

February 24, 2020 


This week we look at:

  • Proposed regulations can be relied upon in the interim, as well as continued reliance on Notice 2018-76
  • Separate invoicing rule for food/beverage first released in Notice 2018-76 is also in the proposed regulations
  • Definition of entertainment stays similar to older definition, but does not include business meals
  • Adopts Notice 2018-76 rules for business meals
  • Detailed guidance on meals related exceptions to 50% disallowance found at §274(e)