Impact on business partnerships; Applicability of memorandum to all types of partnerships; IRS' depending clauses on the deductibility of expenses; Business expenses including meals, travel and entertainment; Reimbursement; Section 162(...
Presents the text of a letter given by Tax Executives Institute President Lester D. Ezrati to United States Internal Revenue Service Commissioner Charles O. Rossotti on September 4, 1998, which deals wi...
Although most M&E expenses are subject to a 50% limit, exceptions permit 100% deductibility. To facilitate accounting for fully deductible M&E, the IRS issued revenue procedure 2004-29, which establishes guidelines for using statistical sampling methods to account for these expenses, whether in an o...