The IRS has issued new guidance to clarify how the temporary 100% business deduction for food or beverages from restaurants applies to taxpayers applying the rules for using per diem rates.
Notice 2021-63 provides a special rule allowing the taxpayer to treat the full meal portion of the per diem rate or allowance as attributable to food or beverages from a restaurant beginning Jan. 1, 2021, through Dec. 31, 2022.