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IRS allows sampling for deducting meals.

Publication: Business Travel News
Publication Date: 10-MAY-04
Format: Online - approximately 138 words
Delivery: Immediate Online Access

Article Excerpt
U.S. companies can use statistical sampling to determine which of their employees' meal and entertainment expenses are 50 percent tax deductible, the Internal Revenue Service said last week. The revenue procedure, effective May 3, eliminates the need to substantiate every transaction. Treasury spokesperson Tara Bradshaw said large companies had...



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