The bulletin, dated April 26, included a notice from the IRS explaining that the temporary allowance under Internal Revenue Code Section 274 doesn't apply to establishments such as grocery stores that primarily offer products not meant for immediate consumption. The Consolidated Appropriations Act
temporarily allows for 100% business meal expensing from Jan. 1, 2021, through Dec. 31, 2022, in certain cases.The bulletin also highlighted Revenue Procedure 2021-21, which provides a waiver so U.S. citizens living abroad don't have to satisfy a minimum time requirement for the foreign earned income exclusion if they had to leave their country for reasons including war and unrest. People must be in a foreign country for a certain amount of time in order to qualify for the exclusion under IRC Section 911(d)(4)
.--Additional reporting by Joshua Rosenberg. Editing by Neil Cohen.
For a reprint of this article, please contact reprints@law360.com.