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Tax Break For Restaurant Owners

The IRS released Notice 2021-63  today to clarify how the temporary 100 percent business deduction for food or beverages from restaurants applies to taxpayers who follow the standards in Revenue Procedure 2019-48 for per diem rates. The IRS previously issued Notice 2021-25, which provided guidance under the Taxpayer Certainty and Disaster Relief Act of 2020, which …

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