Navigating Between Internal Revenue Code Sections 162, 274, 132; IRS Technical Advice Memorandum 200030001; and, Churchill Downs v. Commissioner

As per usual I’m swimming in areas where the tax code is seemingly at odds. The latest matter across my desk regards meals and entertainment (M&E) expense. These are the two questions at hand:

1. Specifically at what point does a meeting expense incurred under IRC section 162 to present a sales pitch to groups of prospective investors in which snacks and perhaps sandwiches are provided become a meal expense under IRC section 274 and thus Read More