N-2018-76: Expenses for Business Meals Under § 274 of the Internal Revenue Code

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October 3, 2018

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Issue Number: N-2018-76

Inside This Issue

Notice 2018-76 provides transitional guidance on the deductibility of expenses for certain business meals under § 274 of the Internal Revenue Code. Section 274 was amended by the Tax Cuts and Jobs Act, Pub. L. No. 115-97, § 13304, 131 Stat. 2054, 2123 (2017) (the Act). As amended by the Act, § 274 generally disallows a deduction for expenses with respect to entertainment, amusement, or recreation. However, the Act does not specifically address the deductibility of expenses for business meals.

Notice 2018-76 will be published in Internal Revenue Bulletin 2018-42 on Oct. 15, 2018.

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