News & Analysis as of

Meal and Entertainment Expenditures

Katten Muchin Rosenman LLP

No Such Thing as a Free Lunch…?

A large US Bank with operations in the UK (Bank) recently won a widely discussed case in the UK's Employment Tribunal after a senior analyst (Employee) sued the Bank for unfairly dismissing him over an expense form relating...more

Womble Bond Dickinson

Handle with Care: FCPA Travel & Hospitality Expenses

Womble Bond Dickinson on

Two recent Foreign Corrupt Practices Act (FCPA) actions – a Department of Justice (DOJ) Opinion letter and an SEC settlement – underscore key diligence questions that legal and compliance departments should address when...more

Rivkin Radler LLP

Constructive Dividends and The Closely Held C Corporation

Rivkin Radler LLP on

Withdrawing Value- Any tax adviser who has represented closely held businesses and their owners long enough realizes there are certain recurring themes that transcend the otherwise unique characteristics of the industry of...more

Freeman Law

Estimating Tax Deductions: The Cohan Rule

Freeman Law on

The Cohan Rule: Tax Deductions with Incomplete Records - The “Cohan rule” is derived from the Second Circuit’s 1930 decision, Cohan v. Commissioner, which allowed the taxpayer to approximate travel and entertainment...more

Perkins Coie

Summary of Certain Business Tax Provisions in the Consolidated Appropriations Act, 2021

Perkins Coie on

After much political gridlock, Congress passed an omnibus government-spending bill (Appropriations Act), which includes another COVID-19 relief package. The Appropriations Act contains many tax-related provisions. Some of the...more

Womble Bond Dickinson

Coronavirus Stimulus Legislation: Tax Credits and Other Business Programs

Womble Bond Dickinson on

This final alert in our four-part series on coronavirus stimulus legislation covers the various other significant stimulus proposals focused on businesses contained in the Democrat’s Health and Economic Recovery Omnibus...more

Holland & Knight LLP

NBAA Responds to IRS Proposed Rulemaking for Business Meals, Entertainment

Holland & Knight LLP on

The Internal Revenue Service (IRS) has released its proposed regulations regarding tax treatment for business meals and entertainment activities. The proposed regulations are consistent with the prior guidance released by the...more

Morgan Lewis

Recommended Practices for Employer-Provided Meals and Snacks in Light of Recent IRS Guidance

Morgan Lewis on

The IRS continues to aggressively audit how free meals and snacks offered to employees in many workplaces are treated for federal tax purposes. Recent IRS guidance in this respect is Technical Advice Memorandum 201903017 (the...more

Laner Muchin, Ltd.

IRS Shows How Difficult It Can Be To Exclude Business Meals From Income

Laner Muchin, Ltd. on

The IRS recently issued a Technical Advice Memorandum (TAM) demonstrating the level of scrutiny that the IRS will apply in the case of the business meal exclusion....more

Thomas Fox - Compliance Evangelist

Scrooge and Gift Giving Over the Holidays

Based upon the language of the Foreign Corrupt Practices Act (FCPA), 2012 FCPA Guidance, FCPA enforcement actions and relevant Opinion Releases, and allowing for inflation over the past 40 years, it would appear reasonable...more

Franczek P.C.

Illinois Employers - Update Your Expense Reimbursement Policies

Franczek P.C. on

There’s nothing like a looming deadline to prompt action. Back in August, Governor Rauner signed into law an amendment to the Illinois Wage Payment and Collection Act that, for the first time, requires Illinois employers to...more

Foodman CPAs & Advisors

IRS Guidance on Business Meals is Transitional

Foodman CPAs & Advisors on

The Tax Cut and Jobs Act (TCJA) amended Section 274 of the Internal Revenue Code (IRC) created a confusion for Taxpayers by disallowing a deduction for expenses with respect to “entertainment”, amusement, or recreation and...more

Holland & Knight LLP

NBAA Comments on IRS Notice Regarding Business Meals

Holland & Knight LLP on

The National Business Aviation Association (NBAA) on Nov. 5, 2018, filed the attached comments with the Internal Revenue Service (IRS) regarding IRS Notice 2018-76, which generally permits the deduction of business meals and...more

Foster Garvey PC

Taxpayers Can Have Their Cake and Eat It at an Entertainment Event, and the Cost of the Cake May Be 50% Deductible

Foster Garvey PC on

As we discussed in our February 27, 2018 blog post, the Tax Cuts and Jobs Act ("TCJA") eliminated the deduction for entertainment expenses. Despite commentary to the contrary, we have consistently reported that meals continue...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Hard to imagine that any financial news could come close to making headlines on Thursday, and yet, the SEC and Elon Musk came close. Specifically, the SEC filed suit against Musk, accusing him of “making false public...more

Pullman & Comley - Connecticut Health Law

No Such Thing As A Free Lunch: A Compliance Warning on Lavish Entertainment and Bogus Educational Meetings

Health care practitioners should need no reminder that government authorities closely scrutinize practitioner relationships with the medical device and pharmaceutical industries. Reports of payments under the federal...more

Foster Garvey PC

Decoding the Tax Cuts and Jobs Act – Part VI: Employment and Fringe Benefit Related Provisions

Foster Garvey PC on

BACKGROUND - The Tax Cuts and Jobs Act (“TCJA”) creates, modifies or eliminates a number of employment and employee fringe benefit related provisions of the Code. Both employers and employees need to be aware of these...more

Wilson Sonsini Goodrich & Rosati

Proposed Tax Reform Bills of Senate and House Now Aligned on Key Compensation and Benefits-Related Tax Provisions

This WSGR Alert provides a high-level comparison of the latest tax reform proposals from the U.S. House of Representatives and the U.S. Senate as they relate to compensation and benefits matters....more

Proskauer - Tax Talks

The Tax Cuts and Jobs Act

Proskauer - Tax Talks on

Today, the Republicans in the U.S. House of Representatives released their long-anticipated tax reform bill, entitled the “Tax Cuts and Jobs Act”. While there have been multiple statements from the Republican majority in the...more

Morrison & Foerster LLP

New NYS Regulations Seek To Reign In Title Insurance Marketing Practices

Morrison & Foerster LLP on

The New York State Department of Financial Services (DFS) has announced new regulations aimed at reforming various title insurance industry practices, including practices involving title company and agency marketing...more

Littler

Venezuela Anuncia Aumento del Salario Mínimo y del "Cestaticket Socialista"

Littler on

Mediante los Decretos N° 3.068 y N° 3.069 publicados en Gaceta Oficial N° 41,231, de fecha 7 de Septiembre de 2017, el Presidente Nicolás Maduro aumentó el salario mínimo mensual en un cuarenta por ciento (40%) y ajusta la...more

Littler

Venezuela Announces Increases to the Minimum Wage and Meal Benefit

Littler on

Through Decrees N° 3.068 and 3.069, published in the Official Gazette N° 41.231 on September 7, 2017, Venezuela’s President Nicolás Maduro increased the monthly minimum wage by 40% and "the meal benefit” calculation base to...more

Cozen O'Connor

Sports Teams Can Deduct Full Cost of Pre-Game Meals for Traveling Employees at Hotels at Away Games

Cozen O'Connor on

Overview - In a surprising decision, the Tax Court has allowed the owners of the Boston Bruins hockey team (a subchapter S corporation) to deduct 100 percent of the cost of pre-game meals at hotels for employees while...more

Littler

Littler Global Guide - Portugal - Q1 2017

Littler on

State Budget Law 42/2016 of December 28, 2017 - Enacted Legislation - Effective January 1, 2017, State Budget Law for 2017 introduced various modifications to the labor law landscape, which have had an immediate...more

Littler

Venezuela Anuncia Aumento del Salario Mínimo y del “Cestaticket Socialista”

Littler on

Mediante los Decretos N° 2.832 y N° 2.833 publicados en Gaceta Oficial N° 6.296 Extraordinario, de fecha 2 de mayo de 2017, el Presidente Nicolás Maduro aumentó el salario mínimo mensual en un sesenta por ciento (60%) y...more

43 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide