Current Federal Tax Developments for the week of February 24, 2020: Meals and Entertainment After TCJA

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)

An audio only version of this week’s broadcast can be streamed or downloaded below:

The article for this week’s broadcast can be downloaded below: