IRS Guidance | Wallace, Plese + Dreher

IRS Issues Additional Guidance on Food Deduction

Written April 9, 2021 by Barbara Dillon

Categories: Business deductions, Food and Beverage Deduction, Food and Beverage Expenses, IRS, Meals and entertainment, Tax planning, Taxes, Taxpayer Certainty and Disaster Relief Act of 2020

The IRS issued additional guidance under the Taxpayer Certainty and Disaster Relief Act of 2020 allowing businesses a 100% deduction for food or beverages from restaurants. Earlier in 2021, legislation increased the 50% deduction to 100%.

IRS Releases Additional Guidance on PPP Loan Forgiveness

Written November 19, 2020 by Barbara Dillon

Categories: COVID-19, IRS, PPP, PPP Loan Forgiveness, Wallace Plese + Dreher PPP Assistance, Wallace Plese + Dreher PPP Task Force

The IRS published a Revenue Procedure and a Revenue Ruling to clarify certain complex and controversial details in PPP loan forgiveness. Read further for a summary of the new IRS guidance.

Tag: IRS Guidance