Starting January 1, 2026, meals provided for the convenience of the employer under §119 become 100% non-deductible under IRC §274(o). However, a 50% deduction on overtime meals remains under §132(e)(1) if they meet three important requirements.
Recent Taxbytes
2 min read
Once a business receives cash exceeding $10,000 (in either a transaction or related transactions), a
2 min read
President Biden has proposed a 2025 budget, and it’s a pie-in-the-sky plan that has no
2 min read
The Department of Education has announced that it will automatically discharge $1.2 billion in loans
2 min read
An Alabama Federal District Court has found the Corporate Transparency Act and its Beneficial Ownership
2 min read
While Tracy Chapman’s “Fast Car” may have found its way back to the top of
1 min read
The IRS has revised its frequently asked questions (FAQs) for Form 1099-K, Payment Card and
4 min read
I know what you’re thinking: if only the Senate would get moving on that House-approved
Don't Miss It
California Corner: FTB Experiencing Technical Issues
June 11, 2025
California Corner: Filing 1099s with the Franchise Tax Board (FTB)
February 27, 2025
