New Income Tax Rules For Employer-Provided Meals, Lodging
By J.C. Hobbs, Connie Smotek, Farm Progress
In late September 2020, the IRS adopted new regulations concerning the tax deductibility of employer-provided meals and lodging. These rules also apply to farmers and ranchers who provide these meals and/or lodging for their employees. This article provides an explanation of these regulations and how they apply to the farm or ranch business.