Deduction On Restaurant Meals

Share on facebook
Share on google
Share on twitter
Share on linkedin

Businesses can claim a 100% deduction on restaurant meals through the end of 2022, the IRS announced.

The IRS on Thursday released guidance that 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.

  • The full deduction applies only to food purchases from take-out and dine-in restaurants, not pre-packaged food or groceries.
  • Food from third-party facilities operated by an employer isn’t eligible.

More to explorer

IRS Key Contact List

IRS Hotline Numbers With the Tax deadlines extended in Texas, you might need some help. Here is a list of the IRS