Eat, Drink & Maybe Deduct: Mastering IRC 274

Overview

This session provides a comprehensive analysis of meals and entertainment regulations under IRC 274 as amended by the Tax Cuts and Jobs Act. Participants will learn how to identify deductible vs. nondeductible expenditures, interpret the regulatory definitions surrounding “entertainment,” “business associate,” and reimbursement arrangements, and apply the numerous exceptions under IRC 274(e), including compensation, recreational activities, public availability, and goods or services sold to customers. Using examples from the final regulations, we will dissect key distinctions such as separately stated food and beverage costs, employer-provided meals, and the treatment of per diem reimbursements. This course equips practitioners with the technical precision required for compliance, documentation, and audit defense.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this course include:

• IRC § 274 meals and entertainment rules
• Tax Cuts and Jobs Act changes affecting meals and entertainment
• Deductible versus nondeductible expenditures
• Definition of “entertainment”
• Definition of “business associate”
• Reimbursement arrangements
• Exceptions under IRC § 274(e)
• Compensation-related exceptions
• Recreational activity exceptions
• Public availability exceptions
• Goods or services sold to customers
• Separately stated food and beverage costs
• Employer-provided meals
• Per diem reimbursements
• Compliance and documentation requirements

Prerequisites

None

Designed For

CPAs and EAs who deal with meals and entertainment

Objectives

After attending this presentation, you will be able to...

• Identify revisions made by the Tax Cuts and Jobs Act (TCJA) to IRC § 274, including changes affecting meals and entertainment expenses.
• Identify key terminology associated with IRC § 274.
• Identify deduction limitations under IRC § 274 for certain food and entertainment expenses.
• Recognize exceptions to the deduction limitations imposed by IRC § 274.

Preparation

None

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by CPA Crossings.