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IRS cuts entertainment tax break Trump now favors, amid virus

The Internal Revenue Service issued guidelines Wednesday scaling back a tax break for client entertainment, following through on an element of President Donald Trump’s 2017 tax overhaul that he has said he wants to reverse amid the virus pandemic.

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IRS updates per diem rates for 2020-2021

The Internal Revenue Service issued the special daily rates that taxpayers can use to substantiate the amount of expenses they can deduct for lodging, meals and incidental expenses.

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IRS proposes rules for elimination of commuting benefits deduction

The Internal Revenue Service has issued a set of proposed regulations to provide guidance on the elimination of the deduction of qualified transportation fringe and commuting expenses in the Tax Cuts and Jobs Act.

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